uncertainty, society must take robust preventive action to guard against worst-case outcomes. It follows that the higher the … degree of uncertainty, the more aggressive this preventive action should be. This normative maxim is explored in the case of … a stylized dynamic model of pollution control under Knightian uncertainty. At time 0 a decision-maker makes a one …

ambiguity over the aggregation of expert opinion and a decision-maker's attitude towards it. In line with the paper's focus on R …

alternatives for an urban site of environmental interest. Since such projects involve some uncertainty and irreversibility, a …

evaluates the role of Solar Radiation Management (SRM) on the optimal abatement path, focusing on the uncertainty about the … theory under uncertainty, we show that abatement is decreasing in the probability of success of SRM, but that this relation …

% lower. On average, a doubling of public RD&D is expected to result in an 8% cost reduction, but uncertainty is large. The …&D investments do not affect uncertainty ranges, but US experts’ are less confident about costs than Europeans. …

unilateral standard accident model under Knightian uncertainty. It focuses on the cost expectation of major harm on which the …

Uncertainty is prevalent in the context of climate change impacts. Moreover, the distribution across the globe is not … Models (IAMs), which assumes no risk sharing across region, we introduce global risk sharing via a market for state … across regions. We estimate that such risk sharing scheme of climate risks could lead to welfare gains reducing the global …

total social costs. Three types of uncertainties are taken into account: uncertainty about abatement costs, business …