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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
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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
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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
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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
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Proportionality of Willingness to Pay to Small Risk Changes – The Impact of Attitudinal Factors in Scope Tests
Leiter, Andrea M.; Pruckner, Gerald J. - Fondazione ENI Enrico Mattei (FEEM) - 2006
Sensitivity (proportionality) of willingness to pay to (small) risk changes is often used as a criterion to test for valid measures of economic preferences. In a contingent valuation (CV) study conducted in Austria in February 2005 1,005 respondents were asked their willingness to pay (WTP) for...
Persistent link: https://www.econbiz.de/10005385497
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Uncertainty in Integrated Assessment Models of Climate Change: Alternative Analytical Approaches
Golub, Alexander; Narita, Daiju - Fondazione ENI Enrico Mattei (FEEM) - 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/10008828410
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Optimal Emission Policy under the Risk of Irreversible Pollution
Kama, Alain Ayong Le; Pommeret, Aude; Prieur, Fabien - Fondazione ENI Enrico Mattei (FEEM) - 2011
We consider an optimal consumption and pollution problem that has two important features. Environmental damages due to economic activities may be irreversible and the level at which the degradation becomes irreversible is unknown. Particular attention is paid to the situation where agents are...
Persistent link: https://www.econbiz.de/10008853075
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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
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An Exploration of the Link Between Development, Economic Growth, and Natural Risk
Hallegatte, Stéphane - Fondazione ENI Enrico Mattei (FEEM) - 2013
probability of disaster occurrence to decrease with income; (ii) the capital at risk – and thus the economic losses in case of … disaster – to increase faster than economic growth; (iii) the average annual losses to grow faster than income at low levels of … observation of a trend in disaster losses should not be confused with the presence of excessive risk taking. In a descriptive …
Persistent link: https://www.econbiz.de/10010904902
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Think Again: Higher Elasticity of Substitution Increases Economic Resilience
Dumas, P.; Hallegatte, S. - Fondazione ENI Enrico Mattei (FEEM) - 2009
This paper shows that, counter-intuitively, a higher elasticity of substitution in model production function can lead to reduced economic resilience and larger vulnerability to shocks in production factor prices. This result is due to the fact that assuming a higher elasticity of substitution...
Persistent link: https://www.econbiz.de/10004987233