The first-order approach is a technical shortcut widely used in agency problems. The best known set of sufficient conditions for its validity are due to Mirrlees and Rogerson and require that the distribution function is convex in effort and has a likelihood ratio increasing in output. Only one...

In this paper, we focus on the adverse selection issue that prevails when the regulator is not able to observe the type of the abatement costs of the firms. The regulator decides the total level of emission that minimizes the expected social cost of pollution and she sells them to the firms. In...

[fre] Bien que la France ait écarté jusqu’ici l’idée de recourir à des instruments incitatifs pour réduire la pollution diffuse aux nitrates, cet article revient sur le potentiel de ces instruments tels qu’ils ont été employés par certains de nos voisins européens ou, à défaut,...

This article deals with the optimal design of insurance contracts when the insurer faces administrative costs. If the literature provides many analyses of risk sharing with such costs, it is often assumed that these costs are linear. Furthermore, mathematical tools or initial conditions differ...

The liability and compensation for the damage caused by maritime oil spills have been regulated by the 1992 International Convention on Civil Liability for Oil Pollution Damage (1992 Civil Liability Convention) and the 1992 International Oil Pollution Compensation Fund Convention (1992 IOPC...