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Environmental catastrophes under time-inconsistent preferences
Michielsen, Thomas - 2013
I analyze optimal natural resource use in an intergenerational model with the risk of a catastrophe. Each generation maximizes a weighted sum of discounted utility (positive) and the probability that a catastrophe will occur at any point in the future (negative). The model generates time-...
Persistent link: https://www.econbiz.de/10009757402
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The day after tomorrow: mitigation and adaptation policies to deal with uncertainty
Bazzana, Davide; Menoncin, Francesco; Vergalli, Sergio - 2021
The catastrophic events are characterized by "low frequency and high severity". Nevertheless, during the last decades, both the frequency and the magnitude of these events have been significantly rising worldwide. In 2021, the European Commission adopted a new Strategy on Adaptation to Climate...
Persistent link: https://www.econbiz.de/10012609390
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Welfare costs of catastrophes: lost consumption and lost lives
Martin, Ian; Pindyck, Robert S. - 2020
Most of the literature on the economics of catastrophes assumes that such events cause a reduction in the stream of consumption, as opposed to widespread fatalities. Here we show how to incorporate death in a model of catastrophe avoidance, and how a catastrophic loss of life can be expressed as...
Persistent link: https://www.econbiz.de/10012383906
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Price versus quantities versus indexed quantities
Branger, Frédéric; Quirion, Philippe - 2014
total social costs. Three types of uncertainties are taken into account: uncertainty about abatement costs, business …
Persistent link: https://www.econbiz.de/10010419904
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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
demonstrates a multistage stochastic programming framework for catastrophe modeling with endogenous uncertainty, applied to a … setting with endogenous uncertainty leads to more stringent climate policy recommendations (increasing the CO2 control rate by …
Persistent link: https://www.econbiz.de/10011290817
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Lost horizons : the noncooperative management of an evolutionary biological system
Goeschl, Timo; Swanson, Timothy M. - 2002
This paper studies the interaction between two dynamic domains, (1) an evolutionary biological system ('the environment') whose behaviour determines the availability of a resource stock, and (2) an industry where access to the resource stock is determined by the outcome of a patent race. The...
Persistent link: https://www.econbiz.de/10011597824
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Clean and dirty international technology diffusion
Bosetti, Valentina; Verdolini, Elena - 2013
more sensitive to uncertainty. Commitment to EPs also increases the incentives for patent duplication. The magnitude of the …
Persistent link: https://www.econbiz.de/10009756305
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What's the damage? : environmental regulation with policy-motivated bureaucrats
Voß, Achim; Lingens, Jörg - 2014
Many environmental-policy problems are characterized by complexity and uncertainty. Government's choice concerning … transforms a problem of uncertainty into one of asymmetric information. We analyze the ensuing principal-agent relationship and … vice versa). With higher uncertainty, the bureaucrat has a stronger influence on policy. For some values of the …
Persistent link: https://www.econbiz.de/10010380647
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The political economy of energy innovation
Dasgupta, Shouro; De Cian, Enrica; Verdolini, Elena - 2016
This paper empirically investigates the effects of environmental policy, institutions, political orientation, and lobbying on energy innovation and finds that they significantly affect the incentives to innovate and create cleaner energy efficient technologies. We conclude that political economy...
Persistent link: https://www.econbiz.de/10011457755
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Institutions and the environment : existing evidence and future directions
Dasgupta, Shouro; De Cian, Enrica - 2016
In this review we synthetize the existing contributions that use econometric approaches to examine the influence of institutions and governance on environmental policy, environmental outcomes, and investments. The paper describes how the relationship between institutions and various response...
Persistent link: https://www.econbiz.de/10011485706