The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a … rate to a change in risk aversion depends on some fundamental properties of the considered uncertainties. The application … of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields …

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 … for considering risk sharing in IAMs, but also for potentially welfare increasing negotiations about sharing risks of …

Sensitivity (proportionality) of willingness to pay to (small) risk changes is often used as a criterion to test for …,005 respondents were asked their willingness to pay (WTP) for preventing an increase in risk by 1/42,500 and 3/42,500, respectively …. WTP for the higher risk variation is significantly higher than WTP for the lower risk change. We find evidence that those …

for the risk of irreversibility induces more conservative decisions regarding consumption and polluting emissions. In …

The risk of losses of income and productive means due to adverse weather associated to climate change can significantly … levels of risk, under measurable and unmeasurable uncertainty. Moreover, the costs associated to investments in reduced …, climatic event, we expected to observe, and found high levels of risk aversion, but we do observe farmers making trade …

probability of disaster occurrence to decrease with income; (ii) the capital at risk – and thus the economic losses in case of … observation of a trend in disaster losses should not be confused with the presence of excessive risk taking. In a descriptive …, where capital accumulates through increased density of capital at risk in a given area, it is optimal for (i) the …