Résultats du groupe de travail FAO/COPACE sur l'évaluation des stocks démerseaux côtiers du secteur Côte d'Ivoire - Congo

The exploitation rate of demersal stocks in the Côte d'Ivoire-Congo area is in most cases below the level permitting maximum sustainable yield. Any increase in total catch would be achieved through an increase in catch per effort which implies bigger mesh sizes than those in use now (40-45 mm). A first step would be to fix the minimum legal mesh size to 60 mm. New, probably limited resources (crab, squids, benthic sharks) are to be sought along the continental slope.

Report of the BOBLME ecosystem valuation workshop, Phuket, Thailand, 2-3 December, 2014

The objective of the workshop was the first assessment of marine coastal ecosystems in the BOBLME environment. The workshop: endorsed the report assessing, demonstrating and capturing the economic value of marine & coastal ecosystem services; acknowledged further data was was needed for ecosystem valuation analysis; recommended information from this report be added to the BOBLME Strategic Action Programme; identified economic instruments that might be used in conservation and sustainable management, and proposed future work.

Investment incentives and valuation of power sector infrastructure assets with increasing interconnection, intermittency and decarbonisation

This dissertation applies a variety of quantitative methods to electricity and carbon market data, utility company accounts data, capital and operating costs to analyse some of the challenges associated with investment in energy assets. In particular, three distinct research topics are analysed within this general theme: the efficiency of interconnector trading, the optimal sizing of intermittent wind facilities and the impact of carbon pricing on the cost of capital for investors are researched in successive sections.

A new proposition on the martingale representation theorem and on the approximate hedging of contingent claim in mean-variance criterion

In this work we revisit the problem of the hedging of contingent claim using mean-square criterion. We prove that in incomplete market, some probability measure can be identified so that becomes -martingale under .This is in fact a new proposition on the martingale representation theorem. The new results also identify a weight function that serves to be an approximation to the Radon-Nikodým derivative of the unique neutral martingale measure.

Rapport d'évaluation du text interne

info:eu-repo/semantics/nonPublished

Migration and hedonic valuation: The case of air quality

Conventional hedonic techniques for estimating the value of local amenities rely on the assumption that households move freely among locations. We show that when moving is costly, the variation in housing prices and wages across locations may no longer reflect the value of differences in local amenities. We develop an alternative discrete-choice approach that models the household location decision directly, and we apply it to the case of air quality in US metro areas in 1990 and 2000. Because air pollution is likely to be correlated with unobservable local characteristics such as economic activity, we instrument for air quality using the contribution of distant sources to local pollution-excluding emissions from local sources, which are most likely to be correlated with local conditions. Our model yields an estimated elasticity of willingness to pay with respect to air quality of 0.34-0.42. These estimates imply that the median household would pay $149-$185 (in constant 1982-1984 dollars) for a one-unit reduction in average ambient concentrations of particulate matter. These estimates are three times greater than the marginal willingness to pay estimated by a conventional hedonic model using the same data. Our results are robust to a range of covariates, instrumenting strategies, and functional form assumptions. The findings also confirm the importance of instrumenting for local air pollution. © 2009 Elsevier Inc. All rights reserved.

The valuation of property investments

In the seventh edition, the book has been updated and revised to reflect changes in the market, the development of appraisal methods and the subsequent changes in professional practice. The intial overview in Part I of the book, The Economic and Legal Framework, has been revisd to show the present position. Changes in appraisal techniques based on the research of the authors have been incorporated in Part II on Investment Valuation. Revisions have also been made in part II, again based on the research activities of the authors, which examines Investment Appraisal.The serves a number of purposes. First, it provides a critical examination of valuation techniques, with particular reference to the investment method of valuation. Second, it supplies practising valuers and appraisers with more effective data, information and techniques to enable them to carry out their valuations, appraisals and negotiations in an increasily competitive field. Finally, it provides assistance to students and academics in understanding the context of and a range of approaches to the valuation and appraisal of property investments. This book has been a key text in property investment appraisal for more than 30 years, it has sold many thousands of copies globally to academics, students and practitioners.