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The safe carbon budget
Ploeg, Frederick van der - 2017 - Revised August 2017
or 1.5oC. The safe carbon budget is lower if uncertainty about the transient climate response is high and risk tolerance …
Persistent link: https://www.econbiz.de/10011717248
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Climate change risk, and human behavior : theory and evidenc
Dhami, Sanjit S.; Hajimoladarvish, Narges; Mamidi, Pavan - 2023 - This Version: October 2023
A group of decision makers simultaneously make contributions towards a green fund that reduces the future probability of a climate catastrophe. We derive the theoretical predictions of the effects on contributions arising from 'behavioral parameters' such as loss aversion and present-bias;...
Persistent link: https://www.econbiz.de/10014391321
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Should we give up after Solyndra? : optimal technology R&D portfolios under uncertainty
Webster, Mort; Fisher-Vanden, Karen; Popp, David; … - 2015
Global climate change and other environmental challenges require the development of new energy technologies with lower emissions. In the near-term, R&D investments, either by government or the private sector, can bring down the costs of these lower emission technologies. However, the results of...
Persistent link: https://www.econbiz.de/10011298511
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Closed-form integrated assessment and uncertainty
Traeger, Christian - 2015
-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …
Persistent link: https://www.econbiz.de/10011305430
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Modeling uncertainty in climate change : a multi-model comparison
Gillingham, Kenneth; Nordhaus, William D.; Anthoff, David; … - 2015
The economics of climate change involves a vast array of uncertainties, complicating both the analysis and development of climate policy. This study presents the results of the first comprehensive study of uncertainty in climate change using multiple integrated assessment models. The study looks...
Persistent link: https://www.econbiz.de/10011344715
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On welfare frameworks and catastrophic climate risks
Millner, Antony - 2013
Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to "fat-tailed" risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...
Persistent link: https://www.econbiz.de/10010199723
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Explosive oil prices
Gronwald, Marc - 2013
This paper deals with three aspects of spectacular oil price episodes such as the one witnessed in 2008. First, the concept of temporary explosiveness is proposed as an empirical method for capturing this type of behavior. The application of a recently proposed recursive unit root test shows...
Persistent link: https://www.econbiz.de/10009786017
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On the sensitivity of collective action to uncertainty about climate tipping points
Barrett, Scott; Dannenberg, Astrid - 2014
Previous research shows that collective action to avoid a catastrophic threshold, such as a climate "tipping point", is unaffected by uncertainty about the impact of crossing the threshold but that collective action collapses if the location of the threshold is uncertain. Theory suggests that...
Persistent link: https://www.econbiz.de/10010249688
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Climate finance
Giglio, Stefano; Kelly, Bryan T.; Stroebel, Johannes - 2020
approaches to incorporating climate risk in macro-finance models. We then review the empirical literature that explores the … risk. We conclude by proposing several promising directions for future research in climate finance. …
Persistent link: https://www.econbiz.de/10012388178
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Pricing climate risk
Jensen, Svenn; Traeger, Christian - 2021
derive a general analytic formula for the "risk premium" governing the resulting climate policy. The formula generalizes … making under uncertainty. It clarifies the distinct roles of risk aversion, prudence, characteristics of the damage … formulation, and future policy response. We show that an optimal response to uncertainty substantially reduces the risk premium. …
Persistent link: https://www.econbiz.de/10012597858