We present a methodology to assess the profitability of a capital intensive industry over a business cycle and to make projections of profitability for different investment strategies under various hypothetical scenarios for environmental and competition policies. The methodology is applied to...

The prospects for an international agreement within the United Nations Framework on Climate Change (UNFCCC) resulting in a common carbon price ‐ such as a global cap and trade scheme ‐ can for now only be seen as a long term goal. In the meantime, we have to work in a world of unilateral...

Demand uncertainty is thought to in uence irreversible capacity decisions. Suppose local demand can be sourced from domestic (rigid) production or from (fl exible) imports. This paper shows that the optimal domestic capacity is either increasing or decreasing with demand uncertainty depending on...

The determination of optimal fines to deter the formation or continuation of cartels is a major objective of competition policy. We provide an analysis of static and dynamic frameworks to characterize the restitution and deterrence properties of fines: cartel stability depends on their ability...

Le marché de l'Investissement Socialement Responsable (ISR) connaît une croissance soutenue depuis quelques années, mais reste encore très marginal auprès des investisseurs particuliers malgré la création de labels signalant les démarches prenant en compte des critères...

For carbon-intensive, internationally-traded industrial goods, a unilateral increase in the domestic CO2 price may result in the reduction of the domestic production but an increase of imports. In such sectors as electricity, cement and steel, the trade flows result more from short-term regional...

Competitiveness and carbon leakage are major concerns for the design of CO2 emissions permits markets. In absence of a global carbon tax and of border carbon adjustments, output based allocation is a third best solution and is actually implemented (Australia, California, New Zealand). The EU has...

L’investissement socialement responsable (ISR) en France reste peu développé pour les investisseurs particuliers, en dépit d’une croissance forte des fonds ISR et du lancement de labels à leur intention. L’objectif de cet article est de mieux comprendre le rôle limité des labels....

This paper discusses the possible uses of economic analysis for strategic planning decisions in firms. It proposes an approach which emphasizes the role of common knowledge for decentralized parallel decision processes. Planning is interpreted as an interactive process among a set of agents who...

[eng] Do Corporate Governance Models Converge ? . Concerning the development of the corporate governance model, two thesis are studied. On the first hand, national models will exist for a long time. On the second hand, these national models would converge on a unique Anglo-Saxon model. This...