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Nonpoint Source Pollution Control Under Incomplete and Costly Information
Farzin, Y.H.; Kaplan, J.D. - Fondazione ENI Enrico Mattei (FEEM) - 1999
This paper analyses the efficient management of nonpoint source pollution (NPS) under limited pollution control budget and incomplete information inherent in NPS pollution. By incorporating information acquisition into a pollution control model, it focuses on the tradeoff between data collection...
Persistent link: https://www.econbiz.de/10005230880
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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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Heterogeneous Beliefs, Regret, and Uncertainty: The Role of Speculation in Energy Price Dynamics
Joëts, Marc - Fondazione ENI Enrico Mattei (FEEM) - 2013
This paper proposes to investigate the impact of financialization on energy markets (oil, gas, coal and electricity European forward prices) during both normal times and extreme fluctuation periods through an original behavioral and emotional approach. To this aim, we propose a new theoretical...
Persistent link: https://www.econbiz.de/10010904905
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Accounting for Different Uncertainties: Implications for Climate Investments?
Hector, Svenja - Fondazione ENI Enrico Mattei (FEEM) - 2013
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
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Geoengineering and Abatement: A “flat” Relationship under Uncertainty
Emmerling, Johannes; Tavoni, Massimo - Fondazione ENI Enrico Mattei (FEEM) - 2013
The potential of geoengineering as an alternative or complementary option to mitigation and adaptation has received increased interest in recent years. The scientific assessment of geoengineering is driven to a large extent by assumptions about its effectiveness, costs, and impacts, all of which...
Persistent link: https://www.econbiz.de/10010904907
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Variation in Risk Seeking Behavior in a Natural Experiment on Large Losses Induced by a Natural Disaster
Page, Lionel; Savage, David; Torgler, Benno - Fondazione ENI Enrico Mattei (FEEM) - 2012
This study explores people's risk attitudes after having suffered large real-world losses following a natural disaster. Using the margins of the 2011 Australian floods (Brisbane) as a natural experimental setting, we find that homeowners who were victims of the floods and face large losses in...
Persistent link: https://www.econbiz.de/10010904916
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What Social Cost of Carbon? A Mapping of the Climate Debate
Fabert, Baptiste Perrissin; Dumas, Patrice; Hourcade, … - Fondazione ENI Enrico Mattei (FEEM) - 2012
Given disparate beliefs about economic growth, technical change and damage caused by climate change, this paper starts with the seeming impossibility of determining a unique time profile of the social costs of carbon as a benchmark for climate negotiations and for infrastructure decisions that...
Persistent link: https://www.econbiz.de/10010904931
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Sharing of Climate Risks across World Regions
Emmerling, Johannes - Fondazione ENI Enrico Mattei (FEEM) - 2014
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
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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