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Pollution control: When, and how, to be precautious
Athanassoglou, Stergios; Xepapadeas, Anastasios - 2011
The precautionary principle (PP) applied to environmental policy stipulates that, in the presence of physical uncertainty, society must take robust preventive action to guard against worst-case outcomes. It follows that the higher the degree of uncertainty, the more aggressive this preventive...
Persistent link: https://www.econbiz.de/10010279642
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Modeling ambiguity in expert elicitation surveys: Theory and application to solar technology R&D
Athanassoglou, Stergios; Bosetti, Valentina - 2012
potential of new technologies. In this paper we propose a simple decision-theoretic framework that takes into account ambiguity … ambiguity. Our model is intuitive, captures decision makers' ambiguity attitudes, and enables simple sensitivity analysis across … levels of ambiguity. We apply our framework to original data from a recent expert elicitation survey on solar technology. The …
Persistent link: https://www.econbiz.de/10010282954
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Integrated assessment of climate catastrophes with endogenous uncertainty: Does the risk of ice sheet collapse justify precautionary mitigation?
Diaz, Delavane B. - 2015
Greenhouse gas policies confront the trade-off between the costs of reducing emissions and the benefits of avoided climate change. The risk of uncertain and potentially irreversible catastrophes is an important issue related to the latter, and one that has not yet been well incorporated into...
Persistent link: https://www.econbiz.de/10011307301
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Deforestation Rate in the Long-run: the Case of Brazil
Di Corato, Luca; Moretto, Michele; Vergalli, Sergio - 2016
In this article we study the long-run average rate of forest conversion in Brazil. Deforestation results from the following trade-off: on the one hand, the uncertain value of benefits associated with forest conservation (biodiversity, carbon sequestration and other ecosystem services), on the...
Persistent link: https://www.econbiz.de/10011586848
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Investing in Photovoltaics: Timing, Plant Sizing and Smart Grids Flexibility
Bertolini, Marina; D'Alpaos, Chiara; Moretto, Michele - 2016
In Italy and in many EU countries, the last decade was characterized by a large development of distributed generation power plants. Their presence determined new critical issues for the design and management of the overall energy system and the electric grid due to the presence of discontinuous...
Persistent link: https://www.econbiz.de/10011586852
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Climate change and event uncertainty in a dynamic model with overlapping generations
Moretto, Michele; Tamborini, Roberto - 1997
In this paper the climate change effect is an unforeseen earth temperature level above which a negative externality on technology and hence on society's welfare is exerted. We use a dynamic overlapping generations model to develop a positive analysis of the growth path of an economy with the...
Persistent link: https://www.econbiz.de/10011608278
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On the economics of rational self-medication
Akpalu, Wisdom - 2008
It has been established in the medical literature that self-medicating with imperfect information about either the use of a genuine or counterfeit drug or based on wrong self-diagnosis of ailment, which is predominant especially in developing countries, is a risky investment in health capital....
Persistent link: https://www.econbiz.de/10010270943
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Uncertainty in integrated assessment models of climate change: alternative analytical approaches
Golub, Alexander; Narita, Daiju; Schmidt, Matthias G. W. - 2011
Uncertainty plays a key role in the economics of climate change, and the discussions surrounding its implications for climate policy are far from settled. We give an overview of the literature on uncertainty in integrated assessment models of climate change and identify some future research...
Persistent link: https://www.econbiz.de/10010279401
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An equilibrium model of habitat conservation under uncertainty and irreversibility
Di Corato, Luca; Moretto, Michele; Vergalli, Sergio - 2010
In this paper stochastic dynamic programming is used to investigate habitat conservation by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural products when...
Persistent link: https://www.econbiz.de/10010279427
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Land-use change and solar energy production: A real option approach
Gazheli, Ardjan; Di Corato, Luca - 2011
In this paper a real option model is developed to examine the critical factors affecting the decision to lease agricultural land to a company installing a PV power plant. The leasing payment is certain while the net revenues from agriculture are uncertain. We identify the profit values at which...
Persistent link: https://www.econbiz.de/10010279485