Under non-exponential discounting, we develop a dynamic theory for stopping problems in continuous time. Our framework covers discount functions that induce decreasing impatience. Due to the inherent time inconsistency, we look for equilibrium stopping policies, formulated as fixed points of an operator. Under appropriate conditions, fixed-point iterations converge to equilibrium stopping policies.
Interconnected systems are prone to propagation of disturbances, which can undermine their resilience to external perturbations. Propagation dynamics can clearly be affected by potential time delays in the underlying processes. We investigate how such delays influence the resilience of production networks facing disruption of supply.
Cet article vise à dresser un état des lieux du reporting environnemental des sociétés du CAC 40 au regard des recommandations de la Task Force on Climate-related Financial Disclosure (TCFD) du Financial Stability Board (FSB)
Guy Meunier, Juan-Pablo Montero and Jean-Pierre Ponssard
Output-based allocations (OBAs) are typically used in emission trading schemes to mitigate leakage in sectors at risk. Recent work has shown they may also help to stabilize prices in markets subject to supply and demand shocks. We extend previous work to simultaneously include both leakage and volatility.
Guy Meunier, Juan-Pablo Montero, Jean-Pierre Ponssard.
The paper studies pollution permit markets in which a fraction of permits are allocated to firms based on their output. Output-based allocations, which are receiving increasing attention in the design of carbon markets around the world are shown to be optimal under demand and supply volatility despite the output distortions they may create.
We examine to which extent the Keen model (Keen 1995) is a faithful modelling of Minsky's Finance. We conclude that the Keen crisis has few Minskian flavours.
Cyril François, Gael Giraud, Fatma Rostom, Olivier Vidal
The consumption of mineral resources and energy has increased exponentially over the last 100 years. Further growth is expected until at least the middle of the 21st century. In order to meet this demand, more metals will have to be produced by 2050 than over the last 100 years, which raises questions about the...
Anna Créti, Alena Kotelnikova, Guy Meunier, Jean-Pierre Ponssard.
Article published in Environmental and Resource Economics – September 2017 Abstract. We consider a partial equilibrium model to study the optimal phasing out of...
Common dynamical properties of business cycle fluctuations are studied in a sample of more than 100 countries that represent economic regions from all around the world.
Article publié dans la revue Physica A: Statistical Mechanics and its Applications (août 2017). Pour étudier certains effets stochastiques en économie on considère la...
Maison des Sciences Économiques (6è étage), 106, boulevard de l’Hôpital, 75013 Paris
15 mai 2024
5pm - 7:30pm
La chaire Énergie et Prospérité et le Cired organisent, à l'occasion de la sortie du livre Un nouveau contrat écologique d'Emmanuel Combet et d'Antonin Pottier, un débat avec les deux auteurs ainsi que Marc Fleurbaey et Thierry Pech.
