Showing 1 - 10 of 37
We give the reader a tour of good energy optimization models that explicitly deal with uncertainty. The uncertainty …
Persistent link: https://www.econbiz.de/10005125661
This paper analyzes the impact of different types of barriers on the decision to invest using a simple framework based on stochastic discount factors. Our intuitive approach proposes an alternative to the real options methodology that does not rely on the “smooth-pasting condition.” An...
Persistent link: https://www.econbiz.de/10005408247
Tropical forests are estimated to release approximately 1.7 PgC per year as a result of deforestation. Avoiding tropical deforestation could potentially play a significant role in carbon mitigation over the next 50 years if not longer. Many policymakers and negotiators are skeptical of our...
Persistent link: https://www.econbiz.de/10005407780
Recent empirical results about the US term structure are difficult to reconcile with the classical hypothesis of rational expectations even if time-varying but stationary term premia are allowed for. A hypothesis of rational learning about the conditional variance of the log pricing kernel is...
Persistent link: https://www.econbiz.de/10005412568
Under the Spanish conservation law, compensation is envisaged for the damage associated with all actions that reduce the quantity or quality of protected areas and species. This paper provides a tool to evaluate the monetary equivalent of this damage. First, we conduct a contingent valuation...
Persistent link: https://www.econbiz.de/10005413298
ideological divide, the US seems destined to heightened levels of policy uncertainty for many years to come. Some research … suggests that such uncertainty, particularly over economic policy, partly explains the sluggish nature of the recovery in … America – and - according to one recent study, restoring policy uncertainty to levels that prevailed before the financial …
Persistent link: https://www.econbiz.de/10011125919
We survey the theoretical and empirical literature on decentralization within firms. We first discuss how the concept of incomplete contracts shapes our views about the organization of decision-making within firms. We then overview the empirical evidence on the determinants of decentralization...
Persistent link: https://www.econbiz.de/10011126085
, emission reductions accounting contains substantial uncertainty as a result of forest carbon stock estimates, where the … 63% in moist forest and 58% in dry forest. Combining forest carbon stock estimates and uncertainty in voluntary carbon … market prices demonstrates the financial impact of uncertainty: potential revenues over the 20-year project ranged between US …
Persistent link: https://www.econbiz.de/10011126253
This paper analyses the design of carbon markets in space (i.e., geographically). It is part of a twin set of papers that, starting from first principles, ask what an optimal global carbon market would look like by around 2030. Our focus is on firm-level cap-and-trade systems, although much of...
Persistent link: https://www.econbiz.de/10011126264
This review article tries to answer four questions: (i) what are the stylized facts about uncertainty over time; (ii …) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great … Recession of 2007-2009? On the first question both macro and micro uncertainty appears to rise sharply in recessions. On the …
Persistent link: https://www.econbiz.de/10011126328