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Preface -- Contents -- Part I: Introduction -- Benedetto Cotrugli, Book of the Art of Trade (Libro del'arte dela mercatura) -- Foreword -- A New Edition of Benedetto Cotrugli's The Book of the Art of Trade -- A Changing Book -- This Edition -- The Author: Benedetto Cotrugli (Benedikt Kotrulj/Benedictus de Cotrullis) -- The Book: il Libro del'arte dela mercatura -- Part II: The Book of the Art of Trade -- Preface -- Part 1: On the Origins and Principles of Trade -- Chapter I -- Chapter II On the Essence and Definition of Trade -- Chapter III On the Personal Qualities of the Merchant -- (f. 12') Chapter IV On the Proper Location for the Merchant -- Chapter V On Exchange Selling -- Chapter VI On Selling for Cash -- Chapter VII Selling on Credit -- Chapter VIII On Receiving Payment -- Chapter IX On Paying Your Debts -- Chapter X On the Manner and Universal System of Trading -- Chapter XI On Exchanges -- Chapter XII Of Deposits and Pledges -- Chapter XIII On Keeping One's Books in a Mercantile Manner -- Chapter XIV Of Insurance and Insurers -- Chapter XV On Jewellers -- Chapter XVI Of Drapers and Haberdashers -- Chapter XVII On Wool Merchants and Other Specific Trade Merchants -- Chapter XVIII Things Forbidden to Merchants -- Chapter XIX Of Seven-Year Balances -- Part 2: On the Religion Incumbent on the Merchant -- Chapter I On the Mass -- Chapter II On Prayer -- Chapter III On the Giving of Alms -- Chapter IV On Matters of Conscience: What Is -- And What Is Not Permissible -- Part 3: On the Civic Life of the Merchant -- Exordium -- Chapter I On the Honour and Dignity of the Merchant -- Chapter II On Prudence and the Merchant -- Chapter III On the Education of the Merchant -- Chapter IV Where a Merchant Should Place His Trust -- Chapter V On the Luck of the Merchant -- Chapter VI On the Merchant's Integrity -- Chapter VII On the Merchant's Diligence

This paper provides an analysis of the effectiveness of climate policies by focusing on the link between policy options on the one hand, and structure of the agreements and of the international regimes on the other hand. In particular, the paper analyses whether there are the conditions for an agreement on climate change to be signed by all or almost all world countries; and whether some countries can play a strategic role, with respect to the goal of achieving the largest possible agreement, by proposing strategies, measures, institutions that help to expand the number of countries which commit to control their emissions. In this way, the paper also analyses which strategies can be proposed to reduce the costs of mitigation policies, where the cost reduction is achieved by increasing the number of signatories and by dividing more equitably the burden of emission control.

The difficulty of achieving and implementing a global climate change agreement has stimulated a wide range of policy proposals designed to favour the participation of a large number of countries in a global cooperative effort to control greenhouse gas emissions. This significant book analyses the viability of controlling climate change through a set of regional or sub-global climate agreements rather than via a global treaty

In recent years, voluntary approaches to emission reductions have increasingly been adopted by major companies all over the world and have increasingly been supported by regulatory bodies and public administrations. Despite this world-wide effort to achieve a better environmental performance through voluntary approaches, economic analysis has somehow neglected the importance of voluntary approaches as an environmental policy instrument. This book is a first attempt to fill this gap by gathering together all major experts in the fields and by providing a detailed analysis of all main aspects characterising the design and implementation of voluntary approaches in environmental policy. The book, which is the outcome of cooperation between the École des Mines of Paris and the Fondazione ENI E. Mattei, within the EU Concerted Action on Market Based Policy Instruments for Environmental Protection, contains both theoretical analyses and case studies. The chapters of this book therefore provide a useful assessment of the main features and of the potential implementation problems of a new, important and promising environmental policy instrument

I: Introduction to Control Theory: Methods and Algorithms -- 1. Developments of Control Theory in Macroeconomics -- 2. Linear Controllability: Results and Open Questions -- 3. A System Theoretic Approach to the Theory of Economic Policy -- 4. Software for Economic Optimal Control Models -- II: Recent Developments of Control Theory: Objective Function Specification -- 5. Interactive Vector Optimization as a Complement to Optimal Control in Econometric Decision Models -- 6. Risk Reduction and the Robustness of Economic Policies -- 7. Optimal Economic Policies under a Crawling-Peg Exchange -- 8. Some Remarks on Forward Programming -- 9. Utility and Uncertainty in Intertemporal Choice -- 10. Gradient Methods for FIML Estimation of Econometric Models -- III: Recent Developments of Control Theory: A Game Theoretic Approach -- 11. Methods for the Simultaneous Use of Multiple Models in Optimal Policy Design -- 12. Optimal Policy Design in Interdependent Economies -- 13. Hierarchical Games for Macroeconomic Policy Analysis -- 14. A Dynamic and Stochastic Model of Price Leadership -- 15. Quality and Reputation Policies of Duopolists under Asymmetric Information -- IV: Economic and Econometric Analysis By Control Methods -- 16. A System Approach to Insurance Company Management -- 17. Capital Theoretics, Business Cycles and Feedback Policy: An Experiment in Macroeconomic Control -- 18. Exogeneity and Control.

AbstractThis paper examines future energy and emissions scenarios in China generated by the Integrated Assessment Model WITCH. A Business-as-Usual scenario is compared with five scenarios in which greenhouse gases emissions are taxed, at different levels. The elasticity of China's emissions is estimated by pooling observations from all scenarios and comparing them with the elasticity of emissions in OECD countries. China has a higher elasticity than the OECD for a carbon tax lower than US$50 per ton of CO2-eq. For higher taxes, emissions in OECD economies are more elastic than in China. Our best guess indicates that China would need to introduce a tax equal to about US$750 per ton of CO2-eq in 2050 to achieve the Major Economies Forum goal set for mid-century. In our preferred estimates, the discounted cost of following the 2°C trajectory is equal to 5.4 per cent and to 2.7 per cent of GDP in China and the OECD, respectively.