Verdef - Toile SES

I)#Le#PIB#est#un#instrument#de#mesure#utile#
!
"#"$!%&'!(')*&'!+,-&./'!+(!012!
!
3"!%&! 012! &'/! ,--&456)7)86&! 59(-! 4&'(-&-! 6)! 5-9+(./,9:! +&! 8,&:'! &/! '&-;,.&'! +<(:&! =.9:94,&#! >:! &??&/@! 6&! 012! A5-9+(,/!
,:/=-,&(-!8-(/$!&'/!6<)*-=*)/!.&:/-)6!B(,!5&-4&/!+&!B():/,?,&-!6)!5-9+(./,9:!+&!8,&:'!&/!'&-;,.&'!'(-!(:!/&--,/9,-&!+9::=!B(&66&!B(&!
'9,/!6)!:)/,9:)6,/=!+&'!-=',+&:/'!'(-!(:&!5=-,9+&!+9::=&!A&:!*=:=-)6!"!):$!5)-!/9(/&'!6&'!9-*):,')/,9:'!5-9+(./,;&'!B(,!-=4(:C-&:/!
6&'!/-);),66&(-'@!B(&!.&'!5-9+(./,9:'!'9,&:/!&??&./(=&'!+):'!(:!.)+-&!4)-.D):+!9(!:9:!4)-.D):+#!0)-!&E&456&@!6&!012!.945/)8,6,'&!
6)! 5-9+(./,9:! 5)-! (:&! &:/-&5-,'&! =/-):*C-&! 69.)6,'=&! &:! F-):.&! 4),'! :&! .945/&! 5)'! 6)! 5-9+(./,9:! +<(:&! &:/-&5-,'&! ?-):7),'&!
69.)6,'=&!G!6<=/-):*&-!H!6&!012!.945/)8,6,'&!6)!5-9+(./,9:!+&'!'&-;,.&'!:9:!4)-.D):+'!?9(-:,'!*-)/(,/&4&:/!9(!B()',I*-)/(,/&4&:/!
5)-!6&'!J0K!A>+(.)/,9:!:)/,9:)6&@!096,.&L$#!
3M! A>6,&! N! O)'',-$! %&! 012! &'/! +&! 69,:! 6<9(/,6! 6&! 56('! (/,6,'=! 5)-! 6&'! ):)6P'/&'! =.9:94,B(&'! 59(-! '(,;-&! 6)! .9:Q9:./(-&!
=.9:94,B(&#!>:!4&'(-):/!6)!5-9+(./,9:!+<(:!5)P'@!6&!012!5&-4&/!+&!4&'(-&-!')!'):/=!=.9:94,B(&#!>:!&??&/@!(:&!)(*4&:/)/,9:!+(!
012! &:! ;96(4&! +<(:! 5)P'! +9::=! A.R&'/IGI+,-&! 69-'B(&! 6<9:! &:! -&/,-&! 6&'! &??&/'! +&! 6<,:?6)/,9:$! ',*:,?,&! (:&! )(*4&:/)/,9:! +&! ')!
5-9+(./,9:! +9:.! +&! '9:! )./,;,/=! =.9:94,B(&! &/! ,:;&-'&4&:/@! (:&! 8),''&! +&! .&! 012! /-)+(,-)! (:&! +,4,:(/,9:! +&! 6<)./,;,/=!
=.9:94,B(&!+&!.&!5)P'#!K:&!)./,;,/=!=.9:94,B(&!56('!?9-/&!.-=):/!+9:.!+&!6<&4569,!&/!?),'):/!8),''&-!6&!.DS4)*&!;)!)4=6,9-&-!6)!
',/()/,9:!=.9:94,B(&!+(!5)P'#!0)-!&E&456&@!5&:+):/!6&'!T!U-&:/&!V69-,&('&'!W@!6)!F-):.&!;9P),/!'9:!012!)(*4&:/&-!.D)B(&!)::=&!
+&!XY!&:!49P&::&@!.&!B(,!)!.9:+(,/!)(!56&,:!&4569,#!!
3Z!A[=69\'&!N!])6&:/,:$!%&!012!&'/!(/,6&!59(-!.945)-&-!6)!.-9,''):.&!=.9:94,B(&!+):'!6&!/&45'!&/!+):'!6<&'5).&#!J,:',@!
)./(&66&4&:/@!6<K>!59''C+&!6&!012!6&!56('!=6&;=!'(,;,!+&!5-C'!5)-!6&'!K^J!&/!&:!/-9,',C4&!56).&@!);&.!(:!012!-&5-='&:/):/!X_Y!+&!
.&6(,!+&'!K^J@!6)!`D,:&#!a),'!6)!4&'(-&!+(!012!&:!;96(4&!A+=?6)/=$!5&-4&/!=*)6&4&:/!+&!-&5=-&-!6&'!5D)'&'!+&!+P:)4,'4&!&/!+&!
-)6&:/,''&4&:/!+):'!6<D,'/9,-&#!0)-!&E&456&@!6)!5=-,9+&!6)!56('!?9-/&!+&!.-9,''):.&!+):'!6&!49:+&!'<=.9(6&!+&!"bX_!G!"bcZ@!5=-,9+&!
+&!5-9'5=-,/=!:944=&!T!U-&:/&!V69-,&('&'!W#!>:!&??&/@!+(-):/!.&//&!5=-,9+&@!6&!012!'<&'/!)..-(!&:!49P&::&!.D)B(&!)::=&!!+&!XY!
+):'!6&!49:+&#!J(Q9(-+<D(,@!6&!-P/D4&!)::(&6!49P&:!49:+,)6!+&!.-9,''):.&!'&!',/(&!)(/9(-!+&!MY!&/!'&(6&4&:/!"Y!59(-!6&'!5)P'!
+&!6<K>#!
!
"#M$!%&'!(')*&'!+=-,;='!+(!012!
!
3d! A`D)-69//&! N! 16,)$! ^,! 6&! 012! &'/! ,:+,'5&:')86&! 59(-! 4&'(-&-! 6)! 5-9+(./,9:! +&! 8,&:'! &/! '&-;,.&'! +<(:&! =.9:94,&!,6! &'/!
=*)6&4&:/!,:+,'5&:')86&!59(-!.)6.(6&-!6&!:,;&)(!+&!;,&!49P&:!9(!6<1e[#!f:!4&'(-&!6<1e[@!)(/-&4&:/!+,/!6<,:+,.&!+&!+=;&6955&4&:/!
D(4),:@!&:!.948,:):/!/-9,'!.-,/C-&'!4)Q&(-'!g!6R&'5=-):.&! +&!;,&!G!6)! :),''):.&@!6&!:,;&)(!+R=+(.)/,9:@!&/!6&!:,;&)(!+&!;,&@!9-!6&!
:,;&)(!+&!;,&!49P&:!'<98/,&:/!5)-!6&!hi2jD)8,/):/!A-&;&:(!:)/,9:)6!8-(/$!6(,!4k4&!+=-,;=!+(!012!5)-!D)8,/):/#!%<1e[!&'/!.945-,'!
&:/-&!_!A4)(;),'$!&/!"!A&E.&66&:/$#!0)-!&E&456&!6)!i9-;C*&!'&!',/(&!&:!/k/&!+(!.6)''&4&:/!&:!M_""#!!
!
3X!AO)'',-!N!>6,&$! %&!012! :9('! 5&-4&/! =*)6&4&:/! +&! .)6.(6&-! .&-/),:'! -)/,9'#! a&'(-):/! 6)! /),66&! +<(:&! =.9:94,&@!,6!5&(/!
'&-;,-!+<=/)69:!59(-!5&-4&//-&!+&! .945)-&-!6&'!:,;&)(! +<&:+&//&4&:/! +&'!5)P'@!6&!49:/):/!+&'! +=5&:'&'!5(86,B(&'@!+(! +=?,.,/!
+<(:! 5)P'@! +&'! 5-=6C;&4&:/'! 986,*)/9,-&'@! &/.###!0)-! &E&456&@! 6&! 49:/):/! +&!6)! +&//&! +<(:! =/)/! .944&! 6)! `D,:&! 5&(/! 5)-)l/-&!
4,-9896):/!A)(Q9(-+<D(,!ZX__!4,66,)-+'!+&!+966)-'!&:;,-9:!'9,/!8,&:!56('!B(&!6&!012!+&!6)!F-):.&!m$#!a),'!',!9:!6)!-)559-/&!)(!012!+&!
6)!`D,:&@!9:!)(-)!(:!9-+-&!+&!*-):+&(-!56('!-),'9::)86&!.9:.&-:):/!6&!59,+'!T!;=-,/)86&!W!!+&!6<&:+&//&4&:/!.D,:9,'!g!dZ@XY!+(!012!
)69-'!B(&!6&'!K^J!&/!:948-&!+&!5)P'!&(-95=&:'!?6,-/&:/!)(/9(-!+&'!"__Y!+<&:+&//&4&:/!5(86,.!&/!6)!n)59:!5-C'!+&!M__Y!m!
II)#...#mais#il#comporte#des#limites#
!
M#"$!%&!012!,*:9-&!+&'!)./,;,/='!59(-/):/!.-=)/-,.&'!+&!-,.D&''&'!
!
3o! A`D-,'/95D&@! n&):@! [=6C:&$! a)6D&(-&('&4&:/@! 6&! 012! :<)! 5)'! =/=! .9:7(! 59(-!4&'(-&-! 6<&:'&486&! +&'! -,.D&''&'!
5-9+(,/&'#!>:!&??&/@!.&-/),:&'!5-9+(./,9:'!+&!8,&:'!&/!'&-;,.&'@!/&66&'!B(&!6<=.9:94,&!+94&'/,B(&@!8=:=;96&!&/!.-,4,:&66&!:&!'9:/!
5)'! .945/)8,6,'=&'@! &66&'! '9:/! 59(-/):/! .-=)/-,.&'! +&! -,.D&''&'#!%&'! 4=:)*&'! 5-9+(,'&:/! )(! B(9/,+,&:! +&'! '&-;,.&'!69-'B(<,6'!
&E=.(/&:/! +&'! /p.D&'! +94&'/,B(&'#! %9-'B(<(:! ,:+,;,+(! .(,',:&! (:! *p/&)(@! (:&! -,.D&''&! &'/! .-==&! 5(,'B(&! .<&'/! (:! 8,&:!
.9:'944)86&#!09(-/):/!.944&!,6!:<P!)!5)'!-=4(:=-)/,9:!+(!/-);),6!+&!.9:?&./,9:!+94&'/,B(&!+(!*p/&)(!.&!+&-:,&-!:<&E,'/&!5)'!
59(-!6&!012#!q():/!G!6<=.9:94,&!.-,4,:&66&@!B(,!-&5-='&:/&-),/!&:;,-9:!MY!+(!012!?-):7),'!4),'!"oY!+(!012!.96948,&:@!&66&!:<&'/!5)'!
:9:!56('!.945/)8,6,'=&! +):'!6&!012!5(,'B(&!5)-! +=?,:,/,9:!&66&!&'/!+,'',4(6=&!)(E! )(/9-,/='@!59(-/):/@! )(I+&6G! +&!/9(/!Q(*&4&:/!
49-)6@!6<=.9:94,&!'9(/&--),:&!5&-4&/!8,&:!G!+&'!5)-/,&'!+&!6)!595(6)/,9:!+&!*)*:&-!(:!-&;&:(#!!
!
3c!AUD,8)(/!&/!n(+,/D$! `&-/&'@!6&!012! A0-9+(,/!1:/=-,&(-!2-(/$!&'/!(:!9(/,6!+&! 4&'(-&!,:+=/-S:)86&!&:! .&! B(,!.9:.&-:&!6)!
.-9,''):.&!=.9:94,B(&!+<(:!5)P'#!`&5&:+):/@!,6!.9459-/&!.&-/),:&'!6,4,/&'!:9/)44&:/!59(-!6)!5-,'&!&:!.945/&!+&!6<=.9:94,&!
'9(/&--),:&! 6=*)6&! &/! 6)! 5-9+(./,9:! :9:I4)-.D):+&#! >:! &??&/@! 6<=.9:94,&! '9(/&--),:&! 6=*)6&@! &/! +9:.! :9:I+=.6)-=&! A9(!
5)-/,&66&4&:/$@!/&66&!B(<(:&!?&44&!+&!4=:)*&!/-);),66):/!)(!:9,-@!:&!5&(/!k/-&!5-,'&!&:!.945/&!5)-!6&!012#!>??&./,;&4&:/@!.&//&!

)./,;,/=! :<=/):/! 5)'! .&:'=&! &E,'/&-! +<(:! 59,:/! +&! ;(! 6=*)6@! ,6! &'/! /D=9-,B(&4&:/! ,459'',86&! +&! 5-&:+-&! &:! .9:',+=-)/,9:! .&'!
+9::=&'#!i=):49,:'@!.&'I+,/&'!+9::=&'!'9:/!&'/,4=&'!5)-!6&'!=.9:94,'/&'@!)?,:!+&!'&!-)55-9.D&-!)(!4)E,4(4!+(!;=-,/)86&!012!
+<(:!5)P'#!J,:',@!6&!012!+&!6)!F-):.&!&'/!-&+-&''=!.D)B(&!)::=&!+<&:;,-9:!dY@!49:/):/!&'/,4=!+&'!)./,;,/='!6=*)6&'!:9:!+=.6)-=&'#!
0)-!),66&(-'@!6)!5-9+(./,9:!:9:I4)-.D):+&!?),/@!&66&!)('',@!6<98Q&/!+&!+,??,.(6/='!+<&'/,4)/,9:#!>:!&??&/@!.&//&!5-9+(./,9:!:<=/):/!5)'!
4)-.D):+&@!&66&!:&!59''C+&!5)'!+&!5-,E!+&!4)-.D=!B(,!'&-/!G!.)6.(6&-!6)!]J!+&'!)./,;,/='!4)-.D):+&'#!>66&!/&:+!),:',!G!k/-&!'9('I
&'/,4=&!+):'!6&!012!)69-'!B(<&66&!5&(/!);9,-!(:!59,+'!'(8'/):/,&6!+):'!6&!012!A"rY!&:!F-):.&@!M_Y!&:!J66&4)*:&$#!%&'!=.9:94,'/&'!
)--,;&:/! G! 98/&:,-! (:&! ]J! A])6&(-! JQ9(/=&$! ?,./,;&! &:! '9('/-)P):/! G! 6)! '944&! +&'! .9s/'! +&! 5-9+(./,9:! 6&'! .9:'944)/,9:'!
,:/&-4=+,),-&'@!4),'!.&//&!4=/D9+&!,*:9-&!6&'!5-9*-C'!B()6,/)/,?'!+&'!'&-;,.&'!-&:+('!&/!6&(-!)//-,8(&!(:&!;)6&(-!49,:+-&!B(&!'<,6'!
=/),&:/!5-9+(,/'!5)-!6&!'&./&(-!4)-.D):+!+(!?),/!+&!6<)8'&:.&!+&!5-9?,/#! `<&'/! 5)-! &E&456&! 6&! .)'! 59(-! 6&'! '&-;,.&'! +&! '):/=! 9(!
+<=+(.)/,9:!.945-,'!+):'!6&!'&./&(-!5(86,.!&:!F-):.&#!2,&:!B(&!.&'!)./,;,/='!'9,&:/!.9::(&'!&/!56('!9(!49,:'!&'/,4=&'@!,6!&'/!+9:.!
+,??,.,6&!+&!.)6.(6&-!+&!4):,C-&!.&-/),:&!.&!B(<9:!:&!;9,/!5)'@!+<9t!6&!?),/!B(<&66&'!'9,&:/!4)6!5-,'&'!&:!.945/&!5)-!6&!012#!!
!
3c$!A^)-)D@!J?-)$!%&!012!4&'(-&!4)6!(:!.&-/),:!:948-&!+<=6=4&:/'!.944&!6<=.9:94,&!'9(/&--),:&#!>:!&??&/!(:&!5)-/,&!+&!
.&//&!=.9:94,&!&'/!:9:!+=.6)-=&#!`944&! 5)-!&E&456&! 6&!/-);),6!)(!:9,-!B(,!&'/!4)6!4&'(-=!4),'!')!;)6&(-!)Q9(/=&!&'/!/9(/!+&!
4k4&!,:.6('&!+):'!6&!012!'(-!6)!8)'&!+R&'/,4)/,9:'#!f:!5&(/!5-&:+-&!6<&E&456&!+(!/-);),6!+<(:&!?&44&!+&!4=:)*&!+):'!(:!?9P&-@!
5)P=&!4),'!:9:!+=.6)-=&#!K:&!)(/-&!5)-/,&!+&!.&//&!=.9:94,&!&'/!5)-/,&66&4&:/!:9:!+=.6)-=&@!.944&!(:!89(6):*&-!B(,!:&!+=.6)-&!
5)'! /9(/! '9:! .D,??-&! +<)??),-&'! G! 6<>/)/! )?,:! +&! +,4,:(&-! '&'! ,45S/'#! `<&'/! (:&! ?-)(+&! ?,'.)6&@! +):'! .&/! &E&456&! 6&'! '/)/,'/,B(&'!
&'/,4&:/!(:!59(-.&:/)*&!+&!5&-'9::&'!B(,!:&!+=.6)-&:/!5)'!6)!/9/)6,/=!+&!6&(-!)./,;,/=#!`&-/),:&'!5-9+(./,9:'!+&!8,&:'!&/!'&-;,.&'!
'9:/!4)6!4&'(-=!5)-!6&!012!.944&!6&'!5-9+(./,9:'!:9:!4)-.D):+&'!g!G!/&-4,:&-!
!
M#M$!%&!012!:&!5&-4&/!5)'!+<9-,&:/&-!6)!.-9,''):.&!;&-'!6&'!T89::&'W!5-9+(./,9:'!
!
3r!AV&9-*&@!2)'/,):$!0)-4,!6&'! 6,4,/&'!+(! 012@!,6!&'/!,459-/):/!+&!'9(6,*:&-!B(&! 6<)*-=*)/!B(<&'/!6&!012!:&!5-&:+! 5)'! &:!
.945/&!6)!'9(/&:)8,6,/=!+&!6)!.-9,''):.&#!`G+!,6!:&!4&'(-&!5)'!6&'!)//&,:/&'!6,=&'!G!6<&:;,-9::&4&:/!:,!6)!5=-&::,/=!+(!8,&:Ik/-&!+&'!
D(4),:'#!0)-!&E&456&!(:&!.,4&:/&-,&!B(,!;)!5966(&-!6<&:;,-9::&4&:/!9(!&:!=5(,'&-!6&'!-&''9(-.&'!:&!;)!&:!-,&:!5=:)6,'&-!6&!012!
+<(:!5)P'!+9::=@!B(,!-)55&69:'!6&@!)++,/,9::&!6)!5-9+(./,9:!+&'!&:/-&5-,'&'!;,)!6)!'944&!+&!6&(-!]J@!B(&!.&'!&:/-&5-,'&'!),&:/!+&'!
)./,;,/='!:(,',86&'!G!6<&:;,-9::&4&:/!9(!6&!.9:/-),-&#!%)!5-9+(./,9:!+<(:&!&:/-&5-,'&!+&!-&89,'&4&:/!9(!+&!5-9+(./,9:!)*-,.96&!21f!
'&-)!/-),/=&!+&! 6)!4k4&! ?)79:!B(<(:&!5)5&/&-,&!9(!?&-4&!(/,6,'):/!5&'/,.,+&'!&/!?9:*,.,+&'#!>:! &??&/@!6&!012@!+):'!(:&! )55-9.D&!
)49-)6&@!:&!?),/!B(<)++,/,9::&-!+&'!?6(E!+&!]J!&/!:&!-&/-):.D&!Q)4),'!6)!;)6&(-!+&'!'/9.u'!+&!-&''9(-.&'!+=/-(,/&'!9(!+=*-)+=&'!
5)-!6)!5-9+(./,9:!A6&'!&E/&-:)6,/='!:=*)/,;&'$#!
!
3b!Ai,.96)'!N!a)/D,&($!%&!012!:&!4&'(-&!5)'!6&!8,&:Ik/-&#!>:!&??&/@!4k4&!',!6)!.-9,''):.&!5&(/!.9:/-,8(&-!)(!89:D&(-!+&'!
595(6)/,9:'@!6&!012!:&!5-&:+!5)'!&:!.945/&!.&-/),:'!?)./&(-'!&''&:/,&6'!)(!8,&:!k/-&!+&!.&'!+&-:,C-&'!g!!,6!:<,:+,B(&!5)'!6&!:,;&)(!
+&'!,:=*)6,/='!'9.,)6&'@!+(!.DS4)*&@!+&!6<,:'=.(-,/=@!+&!6<=5):9(,''&4&:/!5&-'9::&6@!+&!6)!',/()/,9:!596,/,B(&!+<(:!5)P'#!K:!5)P'@!
.944&! 6)! `D,:&@! 5&(/! );9,-! 6&! ZC4&!012! 49:+,)6! &/! 59(-/):/! );9,-! (:! ?),86&! 1e[@! (:! :,;&)(! +<,:=*)6,/='! &/! +&! ?),86&'! 6,8&-/='!
596,/,B(&'#!%&!012!4&'(-&!'/-,./&4&:/!6)!;)6&(-!+&'!8,&:'!&/!+&'!'&-;,.&'!5-9+(,/'!'(-!(:!/&--,/9,-&!+9::=!&:!(:!):!4),'!,6!:<)!5)'!
=/=!.9:7(!59(-!=;)6(&-!6&!89:D&(-#!`<&'/!59(-B(9,!+<)(/-&'!,:+,.)/&(-'!B()6,/)/,?'!9:/!;(!6&!Q9(-@!4),'!,6!:&!?)(/!5)'!.D&-.D&-!G!?),-&!
+,-&!)(!012!.&!59(-!B(9,!,6!:<)!5)'!=/=!5-=;(#!!
!
3b!!An)+&!&/!J4):+,:&$!%&!012!:&!4&'(-&!5)'!6&!8,&:Ik/-&#!>:!&??&/@!,6!:&!5-&:+!5)'!&:!.945/&!+&'!)./,;,/='!B(,!.9:/-,8(&:/!
)(!8,&:Ik/-&!+&'!,:+,;,+('!+):'!(:&!'9.,=/=!+9::=&#!0)-!&E&456&@!!+&'!)./,9:'!/&66&'!B(&!6&!8=:=;96)/!A.),''&'!)6,4&:/),-&'@!-&'/9!
+(!.v(-$@!B(,!5)-/,.,5&!G!(:&!)4=6,9-)/,9:!+&!6)!B()6,/=!+&!;,&!+&'!5&-'9::&'!&:!+,??,.(6/='@!:&!'9:/!5)'!,:/=*-=&'!+):'!6)!-,.D&''&!
+(!5)P'#!%&! 012! &'/! =*)6&4&:/!,:+,??=-&:/!?).&! )(E!,:=*)6,/='! .944&!6)! 5)(;-&/=! B(,! 5&(/! -&:;9P&-! =*)6&4&:/! )(! .DS4)*&!B(,!
=/),/! +&! "_@ZY! &:! M_"M! &:! F-):.&! )(! '&:'! +(! 21U#! 16! :&! 4&'(-&! B(&! 6&'! -,.D&''&'! 5-9+(,/&'! '(-! (:! 5)P'! &:! (:&! )::=&! &/! :&!
'<,:/=-&''&!+9:.!5)'!G!6)!-=5)-/,/,9:!+&!.&//&!-,.D&''&!'(-!6)!595(6)/,9:!G!6<,:;&-'&!+&!6<1e[!)Q('/=!)(E!,:=*)6,/='#!%<,:'=.(-,/=@!&66&!
)('',@!&'/!9(86,=&#!`&-/),:'!5)P'!'&!/-9(;&:/!&:!D)(/!+(!.6)''&4&:/!+&'!5)P'!6&'!56('!-,.D&'!4),'!5-='&:/&:/!:=):49,:'!(:&!?9-/&!
,:'=.(-,/=@!G!6<,4)*&!+(!a&E,B(&@!!B(,!'&!.6)''&!"dC4&!)(!.6)''&4&:/!+&'!5)P'!)P):/!6&'!012!6&'!56('!,459-/):/'!&/!B(,!.9::),/!(:&!
.-9,''):.&!+&!dY!&:!M_"M@!4),'!B(,!.&5&:+):/!;9,/!.,:B!+&!'&'!;,66&'!,:/=*-=&'!)(!.6)''&4&:/!+&'!+,E!;,66&'!6&'!56('!;,96&:/&'!+(!
49:+&!+<)5-C'!(:&!=/(+&!+(!V69898'&-;)/&(-#!