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Finance and Business as Usual, Blur of Price Signal, Crises of Constant Imminence, Solow's Recommendation
[FINANCE ET "BUSINESS AS USUAL", Flou du signal-prix, crises d'imminence constante, et préconisation de Solow]

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  • Nicolas Bouleau

    (CERMICS - Centre d'Enseignement et de Recherche en Mathématiques, Informatique et Calcul Scientifique - Inria - Institut National de Recherche en Informatique et en Automatique - ENPC - École des Ponts ParisTech)

Abstract

Some of our uses tend to keep economic agents in a vision of progress and growth according to traditional forms, consuming energy and resources, little attentive to the environment. We are studying here in particular the characteristics of contemporary finance that hinder the behavioral changes that are expected to turn away from non-renewable resources. After recalling classic theorizations, the study shows that in recent times the development of financial markets and their derivatives has played a major role in volatility. The model of positive martingales tending towards zero is explained and commented on, it shows the consequences of increasing volatility. This essay leads to recommendations inspired by Robert Solow on the scientific construction of physical and environmental indicators intended to supplement the information given by market prices.

Suggested Citation

  • Nicolas Bouleau, 2017. "Finance and Business as Usual, Blur of Price Signal, Crises of Constant Imminence, Solow's Recommendation [FINANCE ET "BUSINESS AS USUAL", Flou du signal-prix, crises d'imminence constant," Post-Print hal-02440708, HAL.
    • Handle: RePEc:hal:journl:hal-02440708
    Note: View the original document on HAL open archive server: https://hal.science/hal-02440708
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