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Hurricane Katrina revealed massive governmental failure at the local, state and federal levels. This commentary brings the modern theory of property rights and public choice reasoning to bear in explaining why officials failed to strengthen New Orleans's levee system despite forewarning of its weaknesses, failed to pre-deploy adequate emergency supplies as the storm approached landfall and failed to respond promptly afterwards. Its main lesson is that no one should have expected government to be any more effective when confronted with natural disaster than it is in more mundane circumstances.

Economics and mathematics : image, context and development -- Walras's programme : the Walras-Poincar's correspondence reassessed -- The formalisation of economics and debreu's philosophy of mathematics -- The axiomatic method in the foundations of mathematics : implications for economics -- Hahn and Kaldor on the neo-walrasian formalization of economics -- Rationality and conventions in economics and in mathematics -- The emergence of constructive and computable mathematics : new directions for the formalization of economics? -- Economics, mathematics and science : philosophical reflections -- Appendix -- Bibliography

International audience ; Socio-hydrology advanced the field of hydrology by considering humans and their activities as part of the water cycle, rather than as external drivers. Models are used to infer reproducible trends in human interactions with water resources. However, defining and handling water problems in this way may restrict the scope of such modeling approaches. We propose an interdisciplinary socio-hydrological approach to overcome this limit and complement modeling approaches. It starts from concrete field-based situations, combines disciplinary as well as local knowledge on water-society relationships, with the aim of broadening the hydrocentric analysis and modeling of water systems. The paper argues that an analysis of social dynamics linked to water is highly complementary to traditional hydrological tools but requires a negotiated and contextualized interdisciplinary approach to the representation and analysis of socio-hydro systems. This reflection emerged from experience gained in the field where a water-budget modeling framework failed to adequately incorporate the multiplicity of (nonhydrological) factors that determine the volumes of withdrawals for irrigation. The pathway subsequently explored was to move away from the hydrologic view of the phenomena and, in collaboration with social scientists, to produce a shared conceptualization of a coupled human-water system through a negotiated approach. This approach changed the way hydrological research issues were addressed and limited the number of strong assumptions needed for simplification in modeling. The proposed socio-hydrological approach led to a deeper understanding of the mechanisms behind local water-related problems and to debates on the interactions between social and political decisions and the dynamics of these problems.

International audience ; Socio-hydrology advanced the field of hydrology by considering humans and their activities as part of the water cycle, rather than as external drivers. Models are used to infer reproducible trends in human interactions with water resources. However, defining and handling water problems in this way may restrict the scope of such modeling approaches. We propose an interdisciplinary socio-hydrological approach to overcome this limit and complement modeling approaches. It starts from concrete field-based situations, combines disciplinary as well as local knowledge on water-society relationships, with the aim of broadening the hydrocentric analysis and modeling of water systems. The paper argues that an analysis of social dynamics linked to water is highly complementary to traditional hydrological tools but requires a negotiated and contextualized interdisciplinary approach to the representation and analysis of socio-hydro systems. This reflection emerged from experience gained in the field where a water-budget modeling framework failed to adequately incorporate the multiplicity of (nonhydrological) factors that determine the volumes of withdrawals for irrigation. The pathway subsequently explored was to move away from the hydrologic view of the phenomena and, in collaboration with social scientists, to produce a shared conceptualization of a coupled human-water system through a negotiated approach. This approach changed the way hydrological research issues were addressed and limited the number of strong assumptions needed for simplification in modeling. The proposed socio-hydrological approach led to a deeper understanding of the mechanisms behind local water-related problems and to debates on the interactions between social and political decisions and the dynamics of these problems.

International audience ; Socio-hydrology advanced the field of hydrology by considering humans and their activities as part of the water cycle, rather than as external drivers. Models are used to infer reproducible trends in human interactions with water resources. However, defining and handling water problems in this way may restrict the scope of such modeling approaches. We propose an interdisciplinary socio-hydrological approach to overcome this limit and complement modeling approaches. It starts from concrete field-based situations, combines disciplinary as well as local knowledge on water-society relationships, with the aim of broadening the hydrocentric analysis and modeling of water systems. The paper argues that an analysis of social dynamics linked to water is highly complementary to traditional hydrological tools but requires a negotiated and contextualized interdisciplinary approach to the representation and analysis of socio-hydro systems. This reflection emerged from experience gained in the field where a water-budget modeling framework failed to adequately incorporate the multiplicity of (nonhydrological) factors that determine the volumes of withdrawals for irrigation. The pathway subsequently explored was to move away from the hydrologic view of the phenomena and, in collaboration with social scientists, to produce a shared conceptualization of a coupled human-water system through a negotiated approach. This approach changed the way hydrological research issues were addressed and limited the number of strong assumptions needed for simplification in modeling. The proposed socio-hydrological approach led to a deeper understanding of the mechanisms behind local water-related problems and to debates on the interactions between social and political decisions and the dynamics of these problems.

This thesis provides the background to and an analysis of the economics of exploring for and developing oil and gas discoveries in India. It is aimed at helping the oil and gas industry assess the financial attractiveness of investment in that country. The thesis describes the geography, climate, infrastructure, and energy market with an emphasis on how these affect upstream oil and gas industry investment. A detailed description and analysis is given of the petroleum production sharing contract ("PSC") terms embodied in India's New Exploration Licensing Policy ("NELP"), and demonstrates that, depending on negotiations, Government Take under NELP terms is likely to be in the range 50% to 60% for a stand-alone petroleum development. However, PSC terms are regressive for marginal discoveries. In particular, State royalties might hinder the development of small or marginal discoveries and render them uneconomic. As an illustration, depending on the oil price, up to 6 MMbbls of oil in otherwise economically viable small fields in a geological basin might be made uneconomic and left stranded because of the effect of royalties. The thesis also analyses the economics of developing a sample of actual Indian oil and gas fields offshore the east and west coasts of the country in shallow and deep water. Onshore field developments are not analysed because of lack of data. All of the offshore developments analysed are profitable based on past and current economic conditions and knowledge. The majority are also relatively low-risk investments. Finally, the thesis evaluates the profitability of new oil and gas exploration and development offshore the east and west coasts of India. The required minimum size of new exploration prospects are in the range 10 to 17 MMbbls for oil prospects and 138 to 1,100 Bcf for gas prospects assuming a low probability of success. Once a new discovery is made, the required minimum economically developable reserves are 4 to 12 MMbbls for oil discoveries and 63 to ...