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-time investment in damage-control technology and subsequently decides on a desirable dynamic emissions policy. Adopting the robust … optimal investment in damage control is always increasing in the degree of uncertainty, thus confirming the conventional PP … cost of damage-control technology is low enough, damage-control investment and mitigation may act as substitutes and a PP …
Persistent link: https://www.econbiz.de/10010279642
The behaviour of future policy-makers substantially influences future greenhouse gas emissions. Uncertainty about the motives of future policy-makers may thus strongly influence the climate policy strategies of current policy-makers. Analytical and numerical analyses in this paper confirm this...
Persistent link: https://www.econbiz.de/10011608362
We present a simple procedure that selects the strategies most likely to be played by inexperienced agents who interact in one shot 2x2 matching pennies games. As a first step we axiomatically describe players' beliefs. We find the minimax regret criterion to be the simplest functional form that...
Persistent link: https://www.econbiz.de/10010312257
agents are farsighted, related stability concepts have been proposed. We design a simple network formation experiment to test …
Persistent link: https://www.econbiz.de/10010279552
's wealth could increase as compared to the holdings under the Merton rule, which is the standard risk aversion case. With two …
Persistent link: https://www.econbiz.de/10011324938
employees' investment decisions; (2) the amount of funds invested in the stock plans seems driven by a different set of forces …
Persistent link: https://www.econbiz.de/10011335778
This paper distinguishes relative risk aversion and resistance to intertemporal substitution in climate risk modelling …. It shows that higher risk aversion increases the optimal carbon tax. Higher resistance to intertemporal substitution … alone has the same effect as increasing the discount rate, provided that the risk is not too large. We discuss implications …
Persistent link: https://www.econbiz.de/10011608555
This paper reports results from a laboratory experiment on network formation among heterogeneous agents. The …
Persistent link: https://www.econbiz.de/10010312556
Some labor markets have recently developed formal signalling mechanisms, e.g. the signalling for interviews in the job market for new Ph.D. economists. We evaluate the effect of such mechanisms on two-sided matching markets by considering a game of incomplete information between firms and...
Persistent link: https://www.econbiz.de/10010272417
We analyze the welfare consequences of an increase in the commissions charged by the organizer of an auction. Commissions are similar to taxes imposed on buyers and sellers and the economic problem that results looks similar to the question of tax incidence in consumer economics. We argue,...
Persistent link: https://www.econbiz.de/10011325020