In addition to showing the connection between parallel contingent and noncontingent risk comparison problems, we articulate a method for solving both kinds of problems using the "basis" approach. The basis approach has often been used implicitly, but we argue that there is value to making its...

Certains auteurs, tels P. Schou ou P. Aghion et P. Howitt, ont caracterise les sentiers optimaux de croissance dans un modele schumpeterien en presence d'une ressource non renouvelable. Le premier objectif de cet article est de montrer comment ces sentiers peuvent etre implementes dans une...

This paper analyzes environmental labeling strategies in a duopoly market. We consider a three-stage game where firms successively choose their production technology, label signal and price. The willingness to pay for the environmental quality is explained by an altruistic parameter as consumers...

In this paper, we investigate the problem of decentralizing public good decision-making from a political and informational perspective. First, we explain why different levels of jurisdiction, central decision-maker and local ones, are likely to take their decisions under different informational...

This paper studies a classical extension of the Black and Scholes model of option pricing, often known as the Hull and White model. Our specificity is that the volatility process is assumed not only to be stochastic, but also to have long memory features and properties. We study here the...

Par un modele aussi simple que possible, nous essayons de capturer les raisons pour lesquelles plus de 40 millions d'Americains (Hellander et al., 1995) renoncent a s'assurer contre la maladie. Nous utilisons ensuite notre modele pour evaluer les effets qu'aurait eue l'introduction , prevue dans...