Economic design problems are more successful in garnering support from practitioners when the axi... more Economic design problems are more successful in garnering support from practitioners when the axioms are relevant to the practical context. We use the well-known Dummy axiom as a concentrated example of several ways in which axioms can fail to be meaningful in practice. We then describe two channels through which characterization results using axioms that are not relevant to a specific context can undermine the axiomatic program, both from an internal (theoretical) standpoint and from its relationship with the practical world. Yet, a great deal of intellectual stimulation can be found in disciplining ourselves to be guided by context, despite the theorist’s traditional leaning towards universality.
We observe that a Pigovian climate policy need not exact full payment of the social cost of carbo... more We observe that a Pigovian climate policy need not exact full payment of the social cost of carbon upon emission to yield optimal incentives. Following this insight, we propose the creation of a carbon liabilities market to address climate change. Each period, countries would be made liable for their share of responsibility in current climate damage. This yields first-best emissions patterns. Also, because liabilities could be traded like financial debt, it decentralizes the choice a discount rate as well as beliefs about the severity of the climate problem. From an informational standpoint, implementation relies only on realized harm and on the well-documented emission history of countries, unlike a carbon tax or tradable permits scheme, which are based on a sum of discounted expected future marginal damage. We offer a discussion of the differences between a liability scheme and a carbon tax along the dimensions of information, participation, commitment, intergenerational fairness,...
Defence date: 23 October 1998Examining board: Prof. David Cass, University of Pennsylvania, Co-su... more Defence date: 23 October 1998Examining board: Prof. David Cass, University of Pennsylvania, Co-supervisor ; Prof. Rodolphe Dos Santos Ferreira, University of Strasbourg ; Prof. Alan Kirman, GREQAM, Marseille, Supervisor ; Prof. Herbert Scarf, Yale UniversityPDF of thesis uploaded from the Library digitised archive of EUI PhD theses completed between 2013 and 2017-- Chaotic trajectories exist... -- Endogenous behavioural types... -- Heterogeneity and stability..
The consequences of environmental taxation on the supply of airtransportation services by a profi... more The consequences of environmental taxation on the supply of airtransportation services by a profit-maximizing monopolist are examined. We consider both a passenger related tax and an aircraft related tax, highlight their respective impact on prices and frequency and derive their optimal combination. It is shown that there is a trade-off between the recovery of environmental damages and the distortions created by the tax. If tax can be negative. i.e. if the air transportation industry can be subsidized, it is possible to decentralize the optimal situation. We establish the optimal taxation system in a more realistic setting where tax are to be positive and the ATM costs have to be recouped. To conclude we question the opportunity and the ability of (direct) regulatory mechanisms to address these issues in substitution and/or in addition to (the indirect action of) a fuel tax. J. E. L. Classification Numbers: D42, H21, H23, L51, L93.
Economic design problems are more successful in garnering support from practitioners when the axi... more Economic design problems are more successful in garnering support from practitioners when the axioms are relevant to the practical context. We use the well-known Dummy axiom as a concentrated example of several ways in which axioms can fail to be meaningful in practice. We then describe two channels through which characterization results using axioms that are not relevant to a specific context can undermine the axiomatic program, both from an internal (theoretical) standpoint and from its relationship with the practical world. Yet, a great deal of intellectual stimulation can be found in disciplining ourselves to be guided by context, despite the theorist’s traditional leaning towards universality.
We observe that a Pigovian climate policy need not exact full payment of the social cost of carbo... more We observe that a Pigovian climate policy need not exact full payment of the social cost of carbon upon emission to yield optimal incentives. Following this insight, we propose the creation of a carbon liabilities market to address climate change. Each period, countries would be made liable for their share of responsibility in current climate damage. This yields first-best emissions patterns. Also, because liabilities could be traded like financial debt, it decentralizes the choice a discount rate as well as beliefs about the severity of the climate problem. From an informational standpoint, implementation relies only on realized harm and on the well-documented emission history of countries, unlike a carbon tax or tradable permits scheme, which are based on a sum of discounted expected future marginal damage. We offer a discussion of the differences between a liability scheme and a carbon tax along the dimensions of information, participation, commitment, intergenerational fairness,...
Defence date: 23 October 1998Examining board: Prof. David Cass, University of Pennsylvania, Co-su... more Defence date: 23 October 1998Examining board: Prof. David Cass, University of Pennsylvania, Co-supervisor ; Prof. Rodolphe Dos Santos Ferreira, University of Strasbourg ; Prof. Alan Kirman, GREQAM, Marseille, Supervisor ; Prof. Herbert Scarf, Yale UniversityPDF of thesis uploaded from the Library digitised archive of EUI PhD theses completed between 2013 and 2017-- Chaotic trajectories exist... -- Endogenous behavioural types... -- Heterogeneity and stability..
The consequences of environmental taxation on the supply of airtransportation services by a profi... more The consequences of environmental taxation on the supply of airtransportation services by a profit-maximizing monopolist are examined. We consider both a passenger related tax and an aircraft related tax, highlight their respective impact on prices and frequency and derive their optimal combination. It is shown that there is a trade-off between the recovery of environmental damages and the distortions created by the tax. If tax can be negative. i.e. if the air transportation industry can be subsidized, it is possible to decentralize the optimal situation. We establish the optimal taxation system in a more realistic setting where tax are to be positive and the ATM costs have to be recouped. To conclude we question the opportunity and the ability of (direct) regulatory mechanisms to address these issues in substitution and/or in addition to (the indirect action of) a fuel tax. J. E. L. Classification Numbers: D42, H21, H23, L51, L93.
We discuss the latent variables construct, particularly in regard to the following: that latent v... more We discuss the latent variables construct, particularly in regard to the following: that latent variables are considered as the sole explanatory factor of a disorder; that pragmatic concerns are ignored; and that the relationship of these variables to biological markers is not addressed. Further, we comment on the relationship between bridge symptoms and causality, and discuss the proposal in relationship to other constructs (endophenotypes, connectionist-inspired networks).
Accès aux Biens et Services en Haïti - Banque et Développement, 2021
Les ménages à faible revenu ont un accès limité au marché des biens et services du fait de leur f... more Les ménages à faible revenu ont un accès limité au marché des biens et services du fait de leur faible capacité à payer. Lorsque ces biens et services ne sont pas strictement indispensables, il est possible d’identifier un revenu minimum en deçà duquel les ménages préfèrent renoncer leur usage. Ce niveau de revenu déterminant l’exclusion est naturellement croissant avec le niveau des prix pratiqués par les fournisseurs de ces biens et services. Si les coûts sont trop élevés, à moins de subventions, il n’est pas possible d’éviter qu’il y ait exclusion. Cependant, même dans le cas où, étant donné les coûts, il serait possible aux entreprises d’offrir des biens et services à un prix abordable pour tous, il n’est pas certain qu’il soit dans leur intérêt de le faire. Nous identifions pourtant, dans le cadre d’un exemple, des circonstances où la recherche du profit amène spontanément les entreprises à adopter une politique tarifaire inclusive.
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Papers by Etienne Billette de Villemeur