Category Archives: Working Papers

by Olivier Guéant (Cahier de la Chaire n°23) This general readership article proposes an approach to evaluate what an economically and socially acceptable cost can be in the context of policies that aim at improving the environment. We stress the … Continue reading →

by Delphine Lautier (Cahier de la Chaire n°22) This article explains the role of the convenience yield in the relationships linking spot and futures prices in commodity derivatives markets. First, this variable restores the non arbitrage relationship between the prices … Continue reading →