Utilizing theory and empirical insights from psychology and behavioral economics, this paper examines individuals’ cognitive and motivational barriers to adopting climate change adaptation and mitigation measures that increase consumer welfare. We then propose strategies that take into account...

Since the energy crises in the 1970’s, public and private decision makers are considering how to achieve a sustainable transition from fossil fuel based energy to sustainable and clean energies – namely renewable energies. Combined with the improvement of energy efficiency and the rational...

In a series of papers, Martin Weitzman has proposed a Dismal Theorem. The general idea is that, under limited conditions concerning the structure of uncertainty and preferences, society has an indefinitely large expected loss from high-consequence, low-probability events. Under such conditions,...

On March 11, 2011 the strongest ever recorded in Japan earthquake occurred which triggered a powerful tsunami and caused a nuclear accident in Fukushima nuclear plant. The later was a “man-made” disaster having immense impacts on people’s life, health and property, infrastructure, supply...

This paper examines the controversial problem of the choice of the social discount rate in development projects, by focusing on the investment required to adapt to climate change, considering the threats to food security and the needs for human and natural capital, especially for developing...

A weather beaten economy has become a wake up call. The International Energy Agency predicts that carbon emissions will rise 130 percent and oil demand will rise 70 percent by 2050. A sound energy policy that addresses climate change relies upon widespread transfer and implementation of...

Weather variables, and sunshine in particular, are found to be strongly correlated with financial variables. I consider self-reported happiness as a channel through which sunshine affects financial variables. I examine the influence of happiness on risk-taking behavior by instrumenting...

Global climate change mitigation will require the development and diffusion of a large number and variety of new technologies. How will patent protection affect this process? In this paper we first review the evidence on the role of patents for innovation and international technology transfer in...