Oil price prediction has usually proved to be an intractable task due to the intrinsic complexity of oil market mechanism. In addition, the recent oil shock and its consequences relaunch the debate on understanding the behaviour underlying the expected oil prices. Combining the dynamic...

Many policies addressing global climate change revolve around the implementation of mitigation and adaptation strategies. We experimentally examine subjects? choices in a climate change game where subjects are put into groups where they face a potential damage and have the choice to invest...

We experimentally test a theoretically promising amendment to the ratchet-up mechanism of the Paris Agreement. The ratchet-up mechanism prescribes that parties’ commitments to the global response to climate change cannot decrease over time and our results confirm that its effect is...

This study uses the methods of experimental economics to investigate possible reasons for the lack of empirical support for the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are large enough, producers may choose to (partially) ignore the dynamic component...