The analysis of climate change is confronted with large uncertainties that need to be taken into account to arrive at meaningful policy recommendations. The main contribution of economics to this interdisciplinary task is to provide formal frameworks and techniques for analyzing climate policy...

Tradable Permits – a Market-Based Allocation System for the Environment. Tradable Permits and Other Environmental Policy Instruments – Killing one Bird with two Stones. Tradable Permits – Ten Key Design Issues. Tradable Permits with Imperfect Monitoring. Emissions Trading with Greenhouse...

Die langfristigen Klimaschutzziele sehen bis zum Jahr 2020 im Vergleich zu 2008 eine Senkung des Primärenergieverbrauchs um 20% vor, bis zum Jahr 2050 wird eine Senkung um 50% angestrebt. Zur Erreichung dieser Ziele stehen zunehmend Maßnahmen zur Steigerung nachfrageseitiger Energieeffizienz...

Die vorliegende Studie baut auf den im Dezember 2013 veröffentlichen Basisrechtsakten zur künftigen Gemeinsamen Agrarpolitik (GAP) der EU auf und nimmt die möglichen Auswirkungen dieses Politikpaketes auf den Moorschutz in den Blick. Einführend werden dazu die Ziele des Natur- und...

An important assumption in economic studies of climate policy is the social welfare function. This paper shows that applying distinct decision or social welfare criteria can result in different optimal policies of climate control, notably if climate change impacts are uncertain. First, decision...

There is an increasing demand for putting a shadow price on the environment to guide public policy and incentivise private behaviour. In practice, setting that price can be extremely difficult as uncertainties abound. There is often uncertainty not just about individual parameters but about the...

Uncertainty has an almost negligible impact on project value in the standard economic model. I show that a comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The illustration of this result relies on the discount rate, which is the crucial...

To justify substantial carbon emission reductions, recent literature on cost-benefit analysis of climate change suggests discounting environmental quality at a lower discount rate than the standard consumption discount rate. Recent literature also shows that a theoretical foundation for such a...