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Rules vs. Targets : Climate Treaties Under Uncertainty
Gersbach, Hans; Oberpriller, Quirin - 2012
We demonstrate the advantages of a climate treaty based solely on rules for international permit markets when there is uncertainty about abatement costs and environmental damages. Such a ‘Rules Treaty’ comprises a scaling factor and a refunding rule. Each signatory can freely choose the...
Persistent link: https://www.econbiz.de/10014041072
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Rules vs. targets : climate treaties under uncertainty
Gersbach, Hans; Oberpriller, Quirin - 2012 - This version: April 2012
We demonstrate the advantages of a climate treaty based solely on rules for international permit markets when there is uncertainty about abatement costs and environmental damages. Such a ‘Rules Treaty’ comprises a scaling factor and a refunding rule. Each signatory can freely choose the...
Persistent link: https://www.econbiz.de/10009552905
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Risk and the value of information in irreversible decisions
Gersbach, Hans - In: Theory and decision : an international journal for … 42 (1997) 1, pp. 37-51
Persistent link: https://www.econbiz.de/10001222710
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Contingent contracts in banking : insurance or risk magnification?
Gersbach, Hans - 2018 - This version: November 2018
generations, even if the underlying productivity risk is small or zero. We conclude that a joint policy package of orderly default …
Persistent link: https://www.econbiz.de/10011932411
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Risk Sharing Capacity : Markets versus Households
Gersbach, Hans - 2014
-space approach of Arrow-Debreu. A host of new interesting economic issues emerge. First, risk averse agents can attempt to insure … an open question. Second, one may ask more specifically what is the role of social groups for risk sharing and risk … allocation when agents face idiosyncratic or aggregate risk. Third, does a suitable combination of social group formation and …
Persistent link: https://www.econbiz.de/10013061191
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Information acquisition and transparency in committees
Gersbach, Hans; Hahn, Volker - In: International journal of game theory : official journal … 41 (2012) 2, pp. 427-453
Persistent link: https://www.econbiz.de/10009545932
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Information acquisition and transparency in committees
Gersbach, Hans; Hahn, Volker - 2008
Persistent link: https://www.econbiz.de/10003669428
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A Reform Dilemma in Polarized Democracies
Gersbach, Hans - 2016
We study the feasibility and efficiency of policy reforms in polarized democracies. We develop a simple election model where (i) reforms are costly for voters and politicians and these costs increase with the extent of policy change, and (ii) politicians differ in their ability to carry out...
Persistent link: https://www.econbiz.de/10012985780
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Communication under Ambiguity
Dominiak, Adam; Gersbach, Hans - 2024
We study communication in ambiguous environments. Agents communicate individual decisions sequentially. Based on the signal that an agent receives, she revises her private information. When signals are ambiguous, we show that agents may agree to disagree forever. Although the learning process...
Persistent link: https://www.econbiz.de/10014484275
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Information Acquisition and Transparency in Committees
Gersbach, Hans; Hahn, Volker - 2010
We study an intertemporal model of committee decision-making where members differ in their levels of efficiency. They may acquire costly information that enhances their ability to make a correct decision. We focus on the impact of transparency. We show that the principal’s initial utility is...
Persistent link: https://www.econbiz.de/10014220992