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Discounting future costs and benefits is a crucial yet contentious practice in the appraisal of long-term public projects with environmental consequences. The standard approach typically neglects that ecosystem services are not easily substitutable with manufactured goods and often exhibit...
Persistent link: https://www.econbiz.de/10013168021
Carbon dioxide emissions are a major force driving climate change. We construct scenarios of CO2 emissions from fossil …
Persistent link: https://www.econbiz.de/10010412388
In an integrated economy-ecosystem model humans choose their land use and leave the residual land as habitat for three species forming a food chain. The size of habitat determines the diversity and abundance of species. That biodiversity generates, in turn, a flow of ecosystem services with...
Persistent link: https://www.econbiz.de/10011450672
rate is the result of introducing several forms of uncertainty, but this paper reaches that conclusion from an endogenous …
Persistent link: https://www.econbiz.de/10011973962
can be used for making such adjustments, we perform a global meta-analysis of contingent valuation studies to derive …. In an application to natural capital valuation of forest ecosystem services by the World Bank, we show that public forest …
Persistent link: https://www.econbiz.de/10014551808
Petroleum administration can be regarded as a principal-agent problem. The government allocates exploration and production rights to petroleum companies on behalf of the population. The government is the principal and the companies are agents. With the aim of capturing revenue for the state, the...
Persistent link: https://www.econbiz.de/10010426021
the question of how one should measure vulnerability to shocks, when there is uncertainty concerning the productivity of …
Persistent link: https://www.econbiz.de/10011398652
is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …
Persistent link: https://www.econbiz.de/10011305430
uncertainty on firms' decisions and market outcomes. We construct alternative measures of uncertainty based on survey of … index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment and the … generally non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on firms' decisions …
Persistent link: https://www.econbiz.de/10009764986
some recipients are exposed to uncertainty. Although, under certainty almost all uninvolved participants distribute … resources equally, they exhibit remarkable heterogeneity in just allocations under uncertainty. Moreover, uninvolved … participants allocate on average less to recipients exposed to higher degrees of uncertainty and allocations are correlated with …
Persistent link: https://www.econbiz.de/10009766681