We provide a new price-quantity mechanism to implement the Lindahl allocations as Nash equilibria. We show that it satisfies the property of forthrightness, introduced by Saijo et al. [1996]. Thus, at a Nash equilibrium, each player reports directly and honestly his personal price and his demand...

This paper deals with the existence of anonymous mechanisms to realize the Lindahl correspondence. We consider, in turn, constant and decreasing returns to scale technologies for producing public goods. In each case, we provide a continuous (but not smooth) and weakly balanced mechanism, which...

We study the management of a multispecies fishery, exploited under a non-selective harvesting technology. We construct an economic mechanism to regulate the fishery. Under a large class of models, capable of accounting for imperfect competition, congestion externalities, pro-social motivations...

This paper considers the issue of a catastrophic environmental collapse and the way one should deal with it. In the model used here, one faces the choice to cross or not a critical threshold of pollution, which consequences are a definitive destruction of some environmental characteristic. The...

[fre] La politique du climat nécessite une décision en situation d'incertitude radicale. Ce document illustre ce débat en supposant l'existence d'un risque de catastrophe irréversible au-delà d'un seuil critique de pollution connu. Sans apprentissage, la décision optimale consiste à...

Climate policy claims a reflexion about public decisions under uncertainty. This work focuses on the case where a risk of catastrophe of unknown range is anticipated for pollution levels greater than a certain critical threshold. If constrained by the initial information, the best decision is to...

In this paper, we amend the standard model of law enforcement, by introducing a marginal cost of public funds. We derive the associated optimal enforcement policy. We show that, as the marginal cost of public funds increases, the objective of raising public funds gradually replaces that of...

This note provides a simple characterization of the optimal extraction of a non-renewable resource. The proposed formula determines the solution in its feedback form. It is shown to hold for a large class of models, as long as the utility is stock-independent.