of conforming to a result-based system with no adjustments. The risk aversion and a possible limited liability of the …

, sustaining only modest cuts in emissions. These results are unaffected by uncertainty about the impact of catastrophe. By … contrast, uncertainty about the catastrophic threshold typically causes coordination to collapse. Whether the probability …

their own risk preferences. The observed allocations are consistent with four different views of justice under uncertainty. … some recipients are exposed to uncertainty. Although, under certainty almost all uninvolved participants distribute … resources equally, they exhibit remarkable heterogeneity in just allocations under uncertainty. Moreover, uninvolved …

prices versus tradable quantities in terms of expected welfare, given uncertainty, optimal policy and endogenous cost …

Common integrated assessment models produce the counterintuitive result that higher risk aversion does not lead to … circulation model. It also features Epstein-Zin utility and uncertainty about climate sensitivity that resolves after some time …. The simulations show that aversion to this tipping point risk has little effect. For climate sensitivity of realistic …

). Exogenous uncertainty over the size of the negotiated amount of water is introduced to capture the fact that water availability …