-to-pay for biodiversity conservation is positive in 'rich' developed countries (North), but very low in 'poor' developing … welfare when the North financially supports biodiversity conservation in the South – as stipulated in the Convention on … Biological Diversity (1992). We model that support as a market for biodiversity conservation and distinguish the cases, in which …

-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies …

and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a … comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the …

of climate policy. This study presents the results of the first comprehensive study of uncertainty in climate change …, temperature, damages, and the social cost of carbon (SCC). One key finding is that parametric uncertainty is more important than … uncertainty in model structure. Our resulting pdfs also provide insights on tail events …

derives max-min, max-max and min-max regret policies to deal with this particular form of climate (model) uncertainty and with …

Common integrated assessment models produce the counterintuitive result that higher risk aversion does not lead to … circulation model. It also features Epstein-Zin utility and uncertainty about climate sensitivity that resolves after some time …. The simulations show that aversion to this tipping point risk has little effect. For climate sensitivity of realistic …

unaffected by uncertainty about the impact of crossing the threshold but that collective action collapses if the location of the … uncertainty. Inside the dividing line, where uncertainty is small, collective action should succeed. Outside the dividing line …, where uncertainty is large, collective action should fail. We test this prediction in the experimental lab. Our results …

scientific uncertainty about the effects of increased greenhouse gas concentrations on climate. Criticisms of this controversial …

, sustaining only modest cuts in emissions. These results are unaffected by uncertainty about the impact of catastrophe. By … contrast, uncertainty about the catastrophic threshold typically causes coordination to collapse. Whether the probability …