The tendency to foreshorten time units as we peer further into the future provides an explanation for hyperbolic discounting at an intergenerational time scale. We study implications of hyperbolic discounting for climate change policy, when the probability of a climate-induced catastrophe...

Uncertainty enters the dynamic tradeoffs of environmental and natural resource management in a variety of ways and forms. In this chapter we review the various sources of uncertainty, the methodologies developed to account for them and implications regarding management of environmental and...

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...

Welfare measures under threats of environmental catastrophes are studied using the "“parable”" apparatus of Weitzman and Lofgren [22]. The occurrence probability of the catastrophic event is driven (at least partly) by anthropogenic activities such as natural resource exploitation. Without...

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...

Unintended consequences of announcing a climate policy well in advance of its implementation have been studied in a variety of situations. We show that a phenomenon akin to the so-called “Green- Paradox” holds also when the policy implementation date is uncertain. Governments are compelled,...

Environmental consequences of natural resource exploitation often entail threats of future occurrences of detrimental abrupt events rather than (or in addition to) inflicting a damage gradually. The possibility of abrupt occurrence of climate-change related calamities is a case in mind. The...

Welfare measures under threats of environmental catastrophes are studied using the "parable" apparatus of Weitzman and Lofgren [22]. The occurrence probability of the catastrophic event is driven (at least partly) by anthropogenic activities such as natural resource exploitation. Without...