Hwang, In Chang; Reynes, Frederic; Tol, Richard - Volkswirtschaftliche Fakultät, … - 2014
We construct an endogenous (Bayesian) learning model with fat-tailed uncertainty on the equilibrium climate sensitivity …. We find that the uncertainty is partially resolved over time, although the rate of learning is relatively slow, and the … decision maker with a possibility of learning lowers the efforts to reduce carbon emissions relative to the no-learning case …
