pollutant and endogenous risk of catastrophic collapse. We contrast the traditional "discounted utility" model, which assumes … risk neutrality with respect to intertemporal utility, with a multiplicative choice model that displays risk aversion in …" economy for a given interest rate and no pollution externality. Second, once we introduce a collapse risk whose hazard rate is …

This paper discusses aspects of risk and uncertainty relevant in an interdisciplinary assessment of climate change … policy. It opposes not only the objective approach versus the subjective approach, but also situations when precise … aspects the IPCC guidance notes provides an interdisciplinary unified approach on risk and uncertainty. This is a significant …

and housing policy. …

policy scenarios which respectively assume a strengthening of state intervention, the introduction of market regulation … future water management scenarios. From a policy viewpoint it clarifies expectations concerning State intervention and self …

This paper describes a world composed of two (groups of) countries, which derive their utility from a polluting …