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uncertainty over climate change and its impact, why there is so much uncertainty, and why we will continue to face uncertainty in … the near future. I also explain the policy implications of climate change uncertainty. First, the uncertainty … stronger actions to reduce CO2 emissions. Second, uncertainty interacts with two kinds of irreversibilities. First, CO2 remains …
Persistent link: https://www.econbiz.de/10012481498
The paper illustrates how one may assess our comprehensive uncertainty about the various relations in the entire chain ….5 °C. The 99 percent confidence interval ranges from 3.0 °C to 6.9 °C. Uncertainty about socio-economic drivers of climate … change lie behind a non-trivial part of this uncertainty about global warming …
Persistent link: https://www.econbiz.de/10012464221
) decision criterion to account for deep uncertainty in climate modeling. Here we study choice of climate policy that minimizes … maximum regret with deep uncertainty regarding both the correct climate model and the appropriate time discount rate to use in … normative uncertainty about the appropriate rate. The findings regarding climate policy are novel and informative. The MMR …
Persistent link: https://www.econbiz.de/10012938685
uncertainty (EnvPU) available on a monthly basis over the 1990-2019 period. We find that our EnvPU index spikes during the …-and-trade climate bill and during the Trump presidency. We examine how elevated levels of environmental policy uncertainty relate to … energy exchange-traded fund. Overall, our results are consistent with the notion that policy uncertainty has adverse effects …
Persistent link: https://www.econbiz.de/10013362015
was 1-3 degrees Fahrenheit. In addition, people with higher risk estimates, whether for temperature or related risks (e …, significant behavioral propensities also emerged. For example, accessibility of neutral information on global warming boosted risk …
Persistent link: https://www.econbiz.de/10012466808
The design and conduct of climate change policy necessarily confronts uncertainty along multiple fronts. We explore the … in the future. We appeal to decision theory under risk, model ambiguity and misspecification concerns to provide an … economically motivated approach to uncertainty quantification. We show how this approach reduces the many facets of uncertainty …
Persistent link: https://www.econbiz.de/10012599354
Donald Trump's election and his nomination of Scott Pruitt, a climate skeptic, to lead the Environmental Protection Agency drastically downshifted expectations on US climate-change policy. We study firms' stock-price reactions and institutional investors' portfolio adjustments after these...
Persistent link: https://www.econbiz.de/10012480961
Concerns about the impact on large-scale earth systems have taken center stage in the scientific and economic analysis of climate change. The present study analyzes the economic impact of a potential disintegration of the Greenland Ice Sheet (GIS). The method is to combine a small geophysical...
Persistent link: https://www.econbiz.de/10012453079
offer a series of testable hypotheses concerning the economic incidence of spatially tied climate change risk …
Persistent link: https://www.econbiz.de/10012457950
Utilizing theory and empirical insights from psychology and behavioral economics, this paper examines individuals' cognitive and motivational barriers to adopting climate change adaptation and mitigation measures that increase consumer welfare. We explore various strategies that take into...
Persistent link: https://www.econbiz.de/10012458873