Showing 1 - 10 of 16
This study adopts a discrete choice modelling methodology to evaluate individuals’ preferences over planning alternatives for an urban site of environmental interest. Since such projects involve some uncertainty and irreversibility, a special attention is devoted to the estimation of the...
Persistent link: https://www.econbiz.de/10004965194
This paper takes sustainability to be a matter of intergenerational welfare equality and examines whether an optimal development path can also be sustainable. It argues that the general “zero-net-aggregate-investment” condition for an optimal development path to be sustainable in the sense...
Persistent link: https://www.econbiz.de/10005230804
The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a general framework that can cope with various forms of uncertainty, it is shown that the response of the consumption discount rate to a change in risk aversion depends on some...
Persistent link: https://www.econbiz.de/10010904906
Uncertainty is prevalent in the context of climate change impacts. Moreover, the distribution across the globe is not uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify the potential welfare gains from such a scheme....
Persistent link: https://www.econbiz.de/10010941054
In this paper we characterize the preferences of a pessimistic social planner concerned with the potential costs of extreme, low-probability climate events. This pessimistic attitude is represented by a recursive optimization criterion à la Hansen and Sargent (1995) that introduces...
Persistent link: https://www.econbiz.de/10010757695
The risk of losses of income and productive means due to adverse weather associated to climate change can significantly differ between farmers sharing a productive landscape. It is important to learn more about how farmers react to different levels of risk, under measurable and unmeasurable...
Persistent link: https://www.econbiz.de/10008465542
Oil spills are a major cause of environmental concern, in particular for Europe. However, the traditional approach to the evaluation of the expected external costs of these accidents fails to take into full account the implications of their probabilistic nature. By adapting a methodology...
Persistent link: https://www.econbiz.de/10005423260
We use perturbation analysis to study independent private-value all-pay auctions with weakly risk-averse buyers. We show that under weak risk aversion: 1) Buyers with low values bid lower and buyers with high values bid higher than they would bid in the risk neutral case. 2) Buyers with low...
Persistent link: https://www.econbiz.de/10005570309
environmental agreements. Later papers confirmed this negative conclusion about the role of learning. In the light of intensified … a more general setting without restriction on the number of players and which considers not only no and full learning … but also partial learning. Second, we test whether the conclusion also holds if there is uncertainty about abatement costs …
Persistent link: https://www.econbiz.de/10008465547
broadcast or sent via shortest paths; only connection density matters. In contrast, homophily substantially slows learning based …
Persistent link: https://www.econbiz.de/10005008021