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Contrôle des conditions de validité du recours aux contrats d’intérim : la Cour de cassation maintient ses exigences
No full textLa cessation immédiate des obligations de l’associé retrayant d’une société à capital variable (note s/s Cass. com., 18 décembre 2024, n° 23-10.695)
No full textL'associé retrayant d'une société à capital variable cesse, à compter de son retrait, d'être soumis aux obligations découlant de sa qualité d'associé, indépendamment de la date à laquelle les conditions de la reprise de son apport seront, le cas échéant, satisfaites, par application de la combinaison des articles L. 231-1, L. 231- 5 et L. 231-6 du Code de commerce
On the compactness of the support of solitary waves of the complex saturated nonlinear Schrödinger equation and related problems
Get PDFWater pricing and markets : Principles, practices and proposals
No full textThe allocation of water across space and time is a key challenge of water governance, with demand and supply often not well matched over time and place. Best practice water pricing and markets may promote water conservation, yet their application is limited. We highlight the governance principles needed for best practice water pricing and water markets, describe differences across regions, and provide six key water demand governance recommendations, for both Global North and Global South countries
Les conditions de retrait judiciaire d’un associé d’une SCI de jouissance à temps partagé (ass. 3e civ., 21 novembre 2024, n° 23-16.857)
No full textLes justes motifs, prévus à l'article 19-1 de la loi n° 86-18 du 6 janvier 1986, autorisant le retrait judiciaire de l'associé d'une société d'attribution d'immeubles en jouissance à temps partagé, s'apprécient par la mise en balance des considérations liées à la situation personnelle de celui-ci et de l'intérêt collectif des associés restants au maintien de cette forme sociale d'offre touristiqu
De la difficulté de prouver la renonciation tacite à la qualité d'associé du conjoint de l'époux apporteur de biens communs
No full textInvestment Timing and Technological Breakthroughs
No full textWe study the optimal investment policy of a firm facing both technological and cash-flow uncertainty. At any point in time, the firm can decide to invest in a standalone technology or to wait for a technological breakthrough. Breakthroughs occur when market conditions become favorable enough, exceeding a certain threshold value that is ex-ante unknown to the firm. A microfoundation for this assumption is that a breakthrough occurs when the share of the surplus from the new technology accruing to its developer is high enough to cover her privately observed cost. We show that the relevant Markov state variables for the firm’s optimal investment policy are the current market conditions and their current historic maximum, and that the firm optimally invests in the stand-alone technology only when market conditions deteriorate enough after reaching a maximum. Empirically, investments in new technologies requiring the active cooperation of developers should thus take place in booms, whereas investments in state-of-the-art technologies should take place in busts. Moreover, the required return for investing in the stand-alone technology is always higher than if this were the only available technology and can take arbitrarily large values following certain histories. Finally, a decrease in development costs, or an increase in the value of the new technology, makes the firm more prone to bear downside risk and to delay investment in the stand-alone technology
Technology shocks, directed technical progress and climate change
No full textTechnical progress is considered a key element in the fight against climate change. It may take the form of technological breakthroughs, that is, shocks that induce significant leaps in the stock of knowledge. We use an endogenous growth framework with directed technical change to analyze the climate impact of such shocks. Two production subsectors coexist: one subsector is fossil-based, using a non-renewable resource, and yields carbon emissions; the other subsector uses a clean, renewable resource. At a given date, the economy benefits from an exogenous technology shock.We fully characterize the general equilibrium and analyze how the shock modifies the economy’s trajectory. The overall effect on carbon emissions basically depends on the substitutability between the production subsectors, the initial state of the economy, and the nature and size of the shock.We notably show that green technology shocks induce higher short-term carbon emissions when the two subsectors are gross complements, but also in numerous cases when they are gross substitutes
