-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. -- climate policy ; extreme events …

and decay of clusters of creativity? We match data on notable individuals born in Europe between the XIth and the XIXth …

to the existing literature, we explicitly model the decision of risk-averse governments on mitigation and adaptation … large adaptation efforts benefits the single country and may reduce the global risk from climate change at the expense of … other countries. -- climate change ; adaptation ; mitigation ; risk-taking …