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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
and incomplete information inherent in NPS pollution. By incorporating information acquisition into a pollution control … higher data collection cost induces more data collection, and (iii) an increase in information productivity leads to an … value of information acquisition depends on the degree of heterogeneity of polluting sites. …
Persistent link: https://www.econbiz.de/10005230880
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Biodiversity Conservation on Private Lands: Information Problems and Regulatory Choices
Lin, Tun; Goeschl, Timo - Fondazione ENI Enrico Mattei (FEEM) - 2004
This survey paper examines various information insufficiencies in biodiversity conservation and their impact of … information, and 4) monitoring problem. The consequences of these four types of information insufficiencies on the choice of …
Persistent link: https://www.econbiz.de/10005385328
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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
possible in a sequential decision-making framework that permits revising initial decisions in the light of new information. To …
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
Most decisions concerning (self-)insurance and self-protection have to be taken in situations in which a) the effort exerted precedes the moment uncertainty realises, and b) the probabilities of future states of the world are not perfectly known. By integrating these two characteristics in a...
Persistent link: https://www.econbiz.de/10011268586
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Time Scale Externalities and the Management of Renewable Resources
Vardas, Giannis; Xepapadeas, Anastasios - Fondazione ENI Enrico Mattei (FEEM) - 2015
The evolution of renewable resources is characterized in many cases by different time scales where some state variables such as biomass, may evolve relatively faster than other state variables such as carrying capacity. Ignoring this time scale separation means that a slowly changing variable is...
Persistent link: https://www.econbiz.de/10011268608