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Cost-effective payments for reducing emissions from deforestation under uncertainty
Engel, Stefanie; Palmer, Charles; Taschini, Luca; … - London School of Economics (LSE) - 2012
The paper analyses the implications of landowners’ option values in land allocation and derives policy recommendations for payments for Reducing Emissions from Deforestation and Forest Degradation (REDD). Given that REDD will not represent a permanent change in the cumulative flux of carbon...
Persistent link: https://www.econbiz.de/10010746548
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High impact, low probability? An empirical analysis of risk in the economics of climate change
Dietz, Simon - London School of Economics (LSE) - 2009
To what extent does economic analysis of climate change depend on low-probability, high-impact events? This question has received a great deal of attention lately, with the contention increasingly made that climate damage could be so large that societal willingness to pay to avoid extreme...
Persistent link: https://www.econbiz.de/10010746080
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Fluctuations in uncertainty
Bloom, Nicholas - London School of Economics (LSE) - 2013
stimulate longer-run innovation. Finally, in terms of the Great Recession, the large jump in uncertainty in 2008 potentially …This review article tries to answer four questions: (i) what are the stylized facts about uncertainty over time; (ii …) why does uncertainty vary; (iii) do fluctuations in uncertainty matter; and (iv) did higher uncertainty worsen the Great …
Persistent link: https://www.econbiz.de/10011126328
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Collective bargaining under complete information
Diaz-Moreno, Carlos; Galdon-Sanchez, Jose E. - London School of Economics (LSE) - 2000
In this paper, we build and structurally estimate a complete information bargaining model of collective negotiation for Spain. For large firms, the assumption of complete information seems a sensible one, and it matches the collective bargaining environment better than the one provided by...
Persistent link: https://www.econbiz.de/10010884535
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Market experimentation in a dynamic differentiated-goods duopoly
Keller, Godfrey; Rady, Sven - London School of Economics (LSE) - 1999
We study the evolution of prices in a symmetric duopoly where firms are uncertain about the degree of product differentiation. Customers sometimes perceive the products as close substitutes, sometimes as highly differentiated. Firms learn about their competitive environment from the quantities...
Persistent link: https://www.econbiz.de/10010746441
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Self-confidence and survival
Bar-Isaac, Heski - London School of Economics (LSE) - 2001
We consider the impact of history on the survival of a monopolist selling single units in discrete time periods, whose quality is learned slowly. If the seller learns her own quality at the same rate as customers, a sufficiently bad run of luck could induce her to stop selling. When she knows...
Persistent link: https://www.econbiz.de/10010746467
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How to gamble against all odds
Peretz, Ron; Bavly, Gilad - London School of Economics (LSE) - 2014
A decision maker observes the evolving state of the world while constantly trying to predict the next state given the history of past states. The ability to benefit from such predictions depends not only on the ability to recognize patters in history, but also on the range of actions available...
Persistent link: https://www.econbiz.de/10011126199
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Strategic trading and welfare in a dynamic market
Vayanos, Dimitri - London School of Economics (LSE) - 1999
This paper studies a dynamic model of a financial market with N strategic agents. Agents receive random stock endowments at each period and trade to share dividend risk. Endowments are the only private information in the model. We find that agents trade slowly even when the time between trades...
Persistent link: https://www.econbiz.de/10011071211
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Effective carbon taxes and public policy options: insights from India and Pakistan
Ahmad, Ehtisham; Stern, Nicholas - London School of Economics (LSE) - 2009
No Abstract
Persistent link: https://www.econbiz.de/10011126236
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Commodity taxation and social welfare: the generalised Ramsey rule
Coady, David; Dreze, Jean - London School of Economics (LSE) - 2000
Commodity taxes have three distinct roles: (1) revenue collection, (2) interpersonal redistribution, and (3) resource allocation. The paper presents an integrated treatment of these three concerns in a second-best general equilibrium framework, which leads to the 'generalised Ramsey rule' for...
Persistent link: https://www.econbiz.de/10010884666