Unintended consequences of a pre-announced climate policy have been studied in a variety of situations. We show that early announcement of a carbon tax gives rise to a 'Green-Paradox', in that it increases polluting emissions in the interim period (between announcement and actual...

We develop a simple model of managing a system subject to pollution damage under risk of an abrupt and random jump in the damage coefficient. The model allows the full dynamic characterization of the optimal emission policies under uncertainty. The results, that imply prudent behavior due to...

In this paper we study agricultural-urban land allocation in light of the rising amenity value of agricultural landscape. A given land area is to be allocated between a number of agricultural activities (crops) and urban use. Each activity (crop) area generates private benefits (profit from...