We present a definition of increasing uncertainty, in which an elementary increase in the uncertainty of any act … rise to a dual definition of comparative aversion to uncertainty. We characterize this definition for a popular class of … generalized models of choice under uncertainty. …

; cotton and field crops). The supply of water for irrigation is subject to climatic and policy uncertainty. Variable inflows … issues facing irrigators, greater pressure is being placed on this finite resource. The uncertainty of the water supply …

rainfall levels. Both medium-term cycles such as the Southern Oscillation and longer term climate change contribute uncertainty … in additional to that arising from seasonal fluctuations. It follows that uncertainty is an inherent feature of water … management in Australia. In addition, the policy process itself generates uncertainty. As new knowledge about water systems …

The idea that preferences may be state-dependent fits naturally with an analysis of uncertainty based on explicit …

in the economics of uncertainty, including problems of consumer choice, the theory of the firm, and principal …

The paper consists of a summary of the main sources of uncertainty about climate change, and a discussion of the major … implications for economic analysis and the formulation of climate policy. Uncertainty typically implies that the optimal policy is …