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Harvesting a Remote Renewable Resource
Upmann, Thorsten - 2018
In standard models of spatial harvesting, the resource is distributed over the complete domain and the agent is able to control the harvesting activity everywhere all the time. In some cases though, it is more realistic to assume that the resource is located at a single point in space and that...
Persistent link: https://www.econbiz.de/10012930805
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Optimal Harvesting of a Spatial Renewable Resource
Behringer, Stefan - 2015
In this paper we investigate optimal harvesting of a renewable natural resource. While in the standard approach the resource is located at a single point in space we allow for the resource to be distributed over the plane. Consequently, an agent who exploits the resource has to travel from one...
Persistent link: https://www.econbiz.de/10013036168
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A Spatial Approach to Energy Economics
Moreno-Cruz, Juan; Taylor, M. Scott - 2021
We develop a spatial model of energy exploitation where energy sources are differentiated by their geographic location and energy density. The spatial setting creates a scaling law that magnifies the importance of differences across energy sources. As a result, renewable sources twice as dense,...
Persistent link: https://www.econbiz.de/10013315804
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Pricing the Ecosystem and Taxing Ecosystem Services : A General Equilibrium Approach
Eichner, Thomas; Pethig, Rudiger - 2021
In an integrated dynamic general equilibrium model of the economy and the ecosystem humans and wildlife species compete for land and prey biomass. We introduce a competitive allocation mechanism in both submodels such that economic prices and ecosystem prices guide the allocation in the economy...
Persistent link: https://www.econbiz.de/10013317058
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Scarring or Scaring? The Psychological Impact of Past Unemployment and Future Unemployment Risk
Knabe, Andreas - 2008
We reassess the quot;scarringquot; hypothesis by Clark et al. (2001), which states that unemployment experienced in the past reduces a person's current life satisfaction even after the person has become reemployed. Our results suggest that the scar from past unemployment operates via worsened...
Persistent link: https://www.econbiz.de/10012768534
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Changes in Risk and the Demand for Saving
Eeckhoudt, Louis - 2008
How does risk affect saving? Empirical work typically examines the effects of detectible differences in risk within the … data. How these differences affect saving in theoretical models depends on the metric one uses for risk. For labor …-income risk, second-degree increases in risk require prudence to induce increased saving demand. However, prudence is not …
Persistent link: https://www.econbiz.de/10012770441
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Offshoring under Uncertainty
Kohler, Wilhelm - 2018
We develop a theoretical framework to explain firms' offshoring decisions in the presence of uncertainty. This model highlights the role of labor market institutions in shaping a firm's ability to effectively react upon future shocks, yielding a sharp prediction of the prevalence of offshoring...
Persistent link: https://www.econbiz.de/10012910629
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Guaranteed Renewable Life Insurance Under Demand Uncertainty
Hoy, Michael - 2018
literature that, when there is (only) risk type uncertainty, the optimal GR contract with renewal price set at the actuarially … fair price for low risk types provides full insurance against reclassification risk. We develop a model that includes … unpredictable (and unobservable) fluctuations in demand for life insurance as well as changes in risk type (observable) over …
Persistent link: https://www.econbiz.de/10012913273
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Merchants of Doubt : Corporate Political Influence When Expert Credibility is Uncertain
Chiroleu-Assouline, Mireille - 2016
A key role of science-based non-governmental organizations (NGOs) is to communicate scientific knowledge to policymakers. However, recent evidence has emerged showing that industry-backed groups often attempt to undermine the credibility of such NGOs and weaken their ability to influence policy....
Persistent link: https://www.econbiz.de/10012977549
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Legal Uncertainty as a Welfare Enhancing Screen
Lang, Matthias - 2016
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10012977556