Public authorities often invoke the precautionary principle to ban or postpone the development of innovative projects with uncertain but potentially harmful irreversible impacts on the environment or health. As stated in the Rio declaration, the precautionary principle suggests balancing costs...

Uncertainty on effective stocks or damages is the core of most irreversible economic decisions involving natural resources and the environment and, more generally, of most investment decisions. The discussion on the relevance of the precautionary principle is illustrative of this role. Although...

This article deals with the incidence of consumers? heterogeneity on the formation of hedonic price functions with a focus on the emergence of market segmentation. Two major points are outlined: (i) in the presence of group-wise heterogeneity, consumers are endogenously gathered on intervals of...

This article deals with the impact of legislation in the seed sector on incentives for variety creation. The first category of rules consists in intellectual property rights and is intended to address a problem of sequential innovation and R&D investments. The second category concerns commercial...

The article highlights the role of heterogeneity in the formation of hedonic prices. The article distinguishes between continuous and groupwise heterogeneity. The distinction helps understanding two important points. First, the analysis of market equilibrium with group wise heterogeneity makes...

The article highlights the role of heterogeneity in the formation of hedonic prices. The article distinguishes between continuous and groupwise heterogeneity. The distinction helps understanding two important points. First, the analysis of market equilibrium with groupwise heterogeneity makes...

The Arrow and Fisher [1974] model of environmental preservation with irreversibility and uncertainty is reconsidered in the perspective of the real option theory. Thanks to this approach, an extension of the model to the continuous time case with a partial exploitation of non renewable resources...

This article deals with the impact of legislation in the seed sector on incentives for variety creation. The first category of rules consists in intellectual property rights and is intended to address a problem of sequential innovation and R&D investments. The second category concerns commercial...

[fre] Le modèle de l’électeur médian postule que l’offre de bien public est déterminée par la demande de l’électeur médian, supposé décisif lors des élections. L’article propose deux nouveaux tests de cette hypothèse sur les villes de plus de 10 000 habitants en France. Pour...