Similar Search Results

Why Uncertainty Matters - Discounting Under Intertemporal Risk Aversion and Ambiguity

Traeger, Christian - 2012

comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the … social discount rate and points out the importance of even thin tailed uncertainty for climate change evaluation. It …

Persistent link: https://www.econbiz.de/10013110758

Closed-Form Integrated Assessment and Uncertainty

Traeger, Christian - 2015

A revised version of this paper can be found at: 'http://ssrn.com/abstract=2667972' http://ssrn.com/abstract=2667972The paper derives the optimal carbon tax in closed-form from an integrated assessment of climate change. The formula shows how carbon, temperature, and economic dynamics quantify...

Persistent link: https://www.econbiz.de/10013017724

Benefit-Cost Analysis of Environmental Projects : A Plethora of Systematic Biases

Graves, Philip E. - 2013

the United States, although most of the arguments translate immediately to decision-making in other countries. There are …

Persistent link: https://www.econbiz.de/10013094430

Carbon Prices for the Next Thousand Years

Gerlagh, Reyer; Liski, Matti - 2021

Climate is a persistent asset, bar none: changes in climate-related stocks have consequences spanning over centuries or possibly millennia to the future. To reconcile the discounting of such far-distant impacts and realism of the shorter-term decisions, we consider hyperbolic time-preferences in...

Persistent link: https://www.econbiz.de/10013315900

Public Investment as Commitment

Gerlagh, Reyer - 2013

? We consider if time-inconsistent decision-makers can gain from institutions that enforce cost-benefit rules on large …

Persistent link: https://www.econbiz.de/10013093884

Statistical vs. Identified Lives in Benefit-Cost Analysis

Hammitt, James K. - 2013

Economic evaluation of projects involving changes in mortality risk conventionally assumes that lives are statistical … known. We examine the effects of information about heterogeneity of risk on economic evaluation. Although social welfare … that may explain the apparent public-decision bias toward protecting identified lives …

Persistent link: https://www.econbiz.de/10012753987

The Life Satisfaction Approach to Environmental Valuation

Frey, Bruno S.; Lüchinger, Simon; Stutzer, Alois - 2021

In many countries environmental policies and regulations are implemented to improve environmental quality and thus individuals’ well-being. However, how do individuals value the environment? In this paper, we review the Life Satisfaction Approach (LSA) representing a new non-market valuation...

Persistent link: https://www.econbiz.de/10013316297

Climate Change and Psychological Adaptation : A Behavioral Environmental Economics Approach

Aronsson, Thomas; Schöb, Ronnie - 2021

Economic models of climate policy (or policies to combat other environmental problems) typically neglect psychological adaptation to changing life circumstances. People may adapt or become more sensitive, to different degrees, to a deteriorated environment. The present paper addresses these...

Persistent link: https://www.econbiz.de/10013315603

The Value of a Statistical Life Under Ambiguity Aversion

Treich, Nicolas - 2021

We show that ambiguity aversion increases the value of a statistical life as soon as the marginal utility of wealth is higher if alive than dead. The intuition is that ambiguity aversion has a similar effect as an increase in the perceived baseline mortality risk, and thus operates as the "dead...

Persistent link: https://www.econbiz.de/10013316532

Carbon Prices for the Next Hundred Years

Gerlagh, Reyer; Liski, Matti - CESifo - 2014

World income grows fast without verifiable climate-change impacts on the economy. The growth spell can end if climate impacts turn real but this can take decades to learn. We develop a tractable stochastic climate-economy model with a hidden-state impact process to evaluate the contributions of...

Persistent link: https://www.econbiz.de/10010747216