We introduce endogenous investments for increasing conventional and non-conventional oil extraction capacity in the integrated assessment model WITCH. The international price of oil emerges as the Nash equilibrium of a non-cooperative game. When carbon emissions are not constrained, oil is used...

We introduce endogenous investments for increasing conventional and non-conventional oil extraction capacity in the integrated assessment model WITCH. The international price of oil emerges as the Nash equilibrium of a non-cooperative game. When carbon emissions are not constrained, oil is used...

This paper describes the WITCH - World Induced Technical Change Hybrid - model in its structure, calibration, and the implementation of the SSP/RCP scenario implementation. The WITCH model is a regionally disaggregated hard-linked model based on a Ramsey type optimal growth model and a detailed...

Our purpose is to analyse the effectiveness and efficiency of a Partial Climate Agreement with open entry under a non-cooperative Nash-Equilibrium framework. We evaluate a partial agreement policy in which non-signatory countries can decide to join or to leave a coalition of the willing at any...

This paper describes the WITCH - World Induced Technical Change Hybrid - model in its structure, calibration, and the implementation of the SSP/RCP scenario implementation. The WITCH model is a regionally disaggregated hard-linked model based on a Ramsey type optimal growth model and a detailed...

Oil spills are a major cause of environmental concern, in particular for Europe. However, the traditional approach to the evaluation of the expected external costs of these accidents fails to take into full account the implications of their probabilistic nature. By adapting a methodology...

Our purpose is to analyse the effectiveness and efficiency of a Partial Climate Agreement with open entry under a non-cooperative Nash-Equilibrium framework. We evaluate a partial agreement policy in which non-signatory countries can decide to join or to leave a coalition of the willing at any...

This research estimates the impact of climate on European agriculture using a continental scale Ricardian analysis. Data on climate, soil, geography and regional socio-economic characteristics were matched for 37 612 individual farms across the EU-15. Farmland values across Europe are sensitive...

Many nonmarket valuation models, such as the Ricardian model, have been estimated using cross sectional methods with a single year of data. Although multiple years of data should increase the robustness of such methods, repeated cross sections suggest the results are not stable. We argue that...