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Ambiguous Aggregation of Expert Opinions: The Case of Optimal R&D Investment
Athanassoglou, Stergios; Bosetti, Valentina; … - Fondazione ENI Enrico Mattei (FEEM) - 2012
ambiguity over the aggregation of expert opinion and a decision-maker's attitude towards it. In line with the paper's focus on R …
Persistent link: https://www.econbiz.de/10009650279
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Pollution Control: When, and How, to be Precautious
Athanassoglou, Stergios; Xepapadeas, Anastasios - Fondazione ENI Enrico Mattei (FEEM) - 2011
The precautionary principle (PP) applied to environmental policy stipulates that, in the presence of physical 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...
Persistent link: https://www.econbiz.de/10009002697
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Land-use Change and Solar Energy Production: A Real Option Approach
Gazheli, Ardjan; Corato, Luca Di - Fondazione ENI Enrico Mattei (FEEM) - 2011
In this paper a real option model is developed to examine the critical factors affecting the decision to lease agricultural land to a company installing a PV power plant. The leasing payment is certain while the net revenues from agriculture are uncertain. We identify the profit values at which...
Persistent link: https://www.econbiz.de/10009421231
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Land Conversion Pace under Uncertainty and Irreversibility: too fast or too slow?
Corato, Luca Di; Moretto, Michele; Vergalli, Sergio - Fondazione ENI Enrico Mattei (FEEM) - 2011
In this paper stochastic dynamic programming is used to investigate land conversion decisions taken by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural...
Persistent link: https://www.econbiz.de/10009421254
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Farmland Investments in Africa: What’s the Deal?
Corato, Luca Di; Hess, Sebastian - Fondazione ENI Enrico Mattei (FEEM) - 2014
Large-scale foreign investments in African farmland are rising and may contribute to agricultural productivity growth and economic development. However, host countries sometimes have to wait longer for the economic benefits to arrive than initially expected. In this respect, the timing of...
Persistent link: https://www.econbiz.de/10010833904
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An Equilibrium Model of Habitat Conservation under Uncertainty and Irreversibility
Corato, Luca Di; Moretto, Michele; Vergalli, Sergio - Fondazione ENI Enrico Mattei (FEEM) - 2010
In this paper stochastic dynamic programming is used to investigate habitat conservation by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural products when...
Persistent link: https://www.econbiz.de/10008828382
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Uncertainty in Integrated Assessment Models of Climate Change: Alternative Analytical Approaches
Golub, Alexander; Narita, Daiju - Fondazione ENI Enrico Mattei (FEEM) - 2011
Uncertainty plays a key role in the economics of climate change, and the discussions surrounding its implications for climate policy are far from settled. We give an overview of the literature on uncertainty in integrated assessment models of climate change and identify some future research...
Persistent link: https://www.econbiz.de/10008828410
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On the Economics of Rational Self-Medication
Akpalu, Wisdom - Fondazione ENI Enrico Mattei (FEEM) - 2008
It has been established in the medical literature that self-medicating with imperfect information about either the use of a genuine or counterfeit drug or based on wrong self-diagnosis of ailment, which is predominant especially in developing countries, is a risky investment in health capital....
Persistent link: https://www.econbiz.de/10004965207
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The Impact of Ambiguity Prudence on Insurance and Prevention
Berger, Loïc - Fondazione ENI Enrico Mattei (FEEM) - 2015
under which ambiguity aversion raises the demand for (self-)insurance and self-protection. In particular, it is shown that … in most usual situations where the level of ambiguity does not increase with the level of effort, a simple condition of … ambiguity prudence known as decreasing absolute ambiguity aversion (DAAA) is sufficient to give a clear and positive answer to …
Persistent link: https://www.econbiz.de/10011268586
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Uncertainty Aversion, Robust Control and Asset Holdings
Xepapadeas, Anastasios; Vardas, Giannis - Fondazione ENI Enrico Mattei (FEEM) - 2004
or less ambiguity, and reduce the holding of the asset for which there is more ambiguity, a result that might provide an …
Persistent link: https://www.econbiz.de/10005230867