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On welfare frameworks and catastrophic climate risks
Millner, Antony - 2013
Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to "fat-tailed" risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...
Persistent link: https://www.econbiz.de/10010199723
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Natural disasters and changing risk preferences : long-run field evidence from Indonesia
Cheong, Daniel - In: The journal of development studies 58 (2022) 11, pp. 2307-2330
provides causal evidence that past disaster experience leads to decreased risk aversion over time. Heterogeneity analysis finds …Whilst studies have looked at the impact of one-off exogenous events on risk preferences, few have used longitudinal … field data to assess the long-run effects of cumulative exposure to shocks. This paper studies how risk preferences are …
Persistent link: https://www.econbiz.de/10013417603
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Adaptation to catastrophic events with two layers uncertainty : central planner perspective
Bondarev, Anton; Krysiak, Frank C. - 2018
We study the optimal adaptation to extreme climate events by the central government in a setup where events are dynamically uncertain and the government does not know the true probabilities of events. We analyze different policy decision rules minimizing expected welfare losses for sites with...
Persistent link: https://www.econbiz.de/10011806379
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The relationship between farmers' shock experiences and their uncertainty preferences - experimental evidence from Mexico
Freudenreich, Hanna; Mußhoff, Oliver; Wiercinski, Ben - 2017
severe harvest losses leads to more risk aversion and stronger overweighting of small probabilities. Higher losses are not …
Persistent link: https://www.econbiz.de/10011631008
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Closed-form integrated assessment and uncertainty
Traeger, Christian - 2015
-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …
Persistent link: https://www.econbiz.de/10011305430
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Accounting for different uncertainties : implications for climate investments?
Hector, Svenja - 2013
The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a … rate to a change in risk aversion depends on some fundamental properties of the considered uncertainties. The application … of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields …
Persistent link: https://www.econbiz.de/10010231715
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Geoengineering and abatement : a "flat" relationship under uncertainty
Emmerling, Johannes; Tavoni, Massimo - 2013
The potential of geoengineering as an alternative or complementary option to mitigation and adaptation has received increased interest in recent years. The scientific assessment of geoengineering is driven to a large extent by assumptions about its effectiveness, costs, and impacts, all of which...
Persistent link: https://www.econbiz.de/10009737193
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Accounting for different uncertainties : implications for climate investments?
Hector, Svenja - 2013
The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a … rate to a change in risk aversion depends on some fundamental properties of the considered uncertainties. The application … of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields …
Persistent link: https://www.econbiz.de/10010221085
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Discount Rates, Social Judgments, Individuals’ Risk Preferences, and Uncertainty
Kaplow, Louis; Weisbach, David A. - 2011
social value judgments and individuals’ risk preferences, the latter raising an empirical question about choices under …, raises further complications regarding the relationship between social judgments and individuals’ risk preferences …
Persistent link: https://www.econbiz.de/10014179557
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Geoengineering and Abatement : A 'Flat' Relationship Under Uncertainty
Emmerling, Johannes; Tavoni, Massimo - 2013
The potential of geoengineering as an alternative or complementary option to mitigation and adaptation has received increased interest in recent years. The scientific assessment of geoengineering is driven to a large extent by assumptions about its effectiveness, costs, and impacts, all of which...
Persistent link: https://www.econbiz.de/10014158817