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The Effect of Risk, Ambiguity and Coordination on Farmers’ Adaptation to Climate Change: A Framed Field Experiment

Alpizar, Francisco; Carlsson, Fredrik; Naranjo, Maria - Fondazione ENI Enrico Mattei (FEEM) - 2010

The risk of losses of income and productive means due to adverse weather associated to climate change can significantly differ between farmers sharing a productive landscape. It is important to learn more about how farmers react to different levels of risk, under measurable and unmeasurable...

Persistent link: https://www.econbiz.de/10008465542

Ambiguous Aggregation of Expert Opinions: The Case of Optimal R&D Investment

Athanassoglou, Stergios; Bosetti, Valentina; … - Fondazione ENI Enrico Mattei (FEEM) - 2012

ambiguity over the aggregation of expert opinion and a decision-maker's attitude towards it. In line with the paper's focus on R …

Persistent link: https://www.econbiz.de/10009650279

Pollution Control: When, and How, to be Precautious

Athanassoglou, Stergios; Xepapadeas, Anastasios - Fondazione ENI Enrico Mattei (FEEM) - 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/10009002697

Heterogeneous Beliefs, Regret, and Uncertainty: The Role of Speculation in Energy Price Dynamics

Joëts, Marc - Fondazione ENI Enrico Mattei (FEEM) - 2013

This paper proposes to investigate the impact of financialization on energy markets (oil, gas, coal and electricity European forward prices) during both normal times and extreme fluctuation periods through an original behavioral and emotional approach. To this aim, we propose a new theoretical...

Persistent link: https://www.econbiz.de/10010904905

Accounting for Different Uncertainties: Implications for Climate Investments?

Hector, Svenja - Fondazione ENI Enrico Mattei (FEEM) - 2013

The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a general framework that can cope with various forms of uncertainty, it is shown that the response of the consumption discount rate to a change in risk aversion depends on some...

Persistent link: https://www.econbiz.de/10010904906

Geoengineering and Abatement: A “flat” Relationship under Uncertainty

Emmerling, Johannes; Tavoni, Massimo - Fondazione ENI Enrico Mattei (FEEM) - 2013

The potential of geoengineering as an alternative or complementary option to mitigation and adaptation has received increased interest in recent years. The scientific assessment of geoengineering is driven to a large extent by assumptions about its effectiveness, costs, and impacts, all of which...

Persistent link: https://www.econbiz.de/10010904907

Variation in Risk Seeking Behavior in a Natural Experiment on Large Losses Induced by a Natural Disaster

Page, Lionel; Savage, David; Torgler, Benno - Fondazione ENI Enrico Mattei (FEEM) - 2012

This study explores people's risk attitudes after having suffered large real-world losses following a natural disaster. Using the margins of the 2011 Australian floods (Brisbane) as a natural experimental setting, we find that homeowners who were victims of the floods and face large losses in...

Persistent link: https://www.econbiz.de/10010904916

What Social Cost of Carbon? A Mapping of the Climate Debate

Fabert, Baptiste Perrissin; Dumas, Patrice; Hourcade, … - Fondazione ENI Enrico Mattei (FEEM) - 2012

Given disparate beliefs about economic growth, technical change and damage caused by climate change, this paper starts with the seeming impossibility of determining a unique time profile of the social costs of carbon as a benchmark for climate negotiations and for infrastructure decisions that...

Persistent link: https://www.econbiz.de/10010904931

Sharing of Climate Risks across World Regions

Emmerling, Johannes - Fondazione ENI Enrico Mattei (FEEM) - 2014

Uncertainty is prevalent in the context of climate change impacts. Moreover, the distribution across the globe is not uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify the potential welfare gains from such a scheme....

Persistent link: https://www.econbiz.de/10010941054

The Impact of Ambiguity Prudence on Insurance and Prevention

Berger, Loïc - Fondazione ENI Enrico Mattei (FEEM) - 2015

under which ambiguity aversion raises the demand for (self-)insurance and self-protection. In particular, it is shown that … in most usual situations where the level of ambiguity does not increase with the level of effort, a simple condition of … ambiguity prudence known as decreasing absolute ambiguity aversion (DAAA) is sufficient to give a clear and positive answer to …

Persistent link: https://www.econbiz.de/10011268586