We compare three parametric techniques to approximate Hamilton-Jacobi-Bellman equations via unidimensional and multidimensional problems. The linear programming technique is very efficient for unidimensional problems and offers a balance of speed and accuracy for multidimensional problems. A...

There is demand for qualitative and quantitative economic analysis on the optimum degree of climate change mitigation and adaptation, the optimal timing of such actions, and their optimum distribution between countries and sectors. This paper discusses what is, as well as what is not, possible...

* The current version of this paper was prepared with the support of the Australian Department of Climate Change and the Environmental Economics Research Hub at the Australian National University. Earlier versions were submitted to the London School of Economics and Political Science in partial...