Certain types of corporate social responsibility (CSR) activities can generate an ‘insurance-like’ benefit for firms (Godfrey, 2005). Thus far, this risk management hypothesis has been verified for the effects of firm-specific negative events. We argue that this insurance-like benefit of...

This paper investigates the economic implications of a comprehensive approach to sustainable greenhouse policies that strives to stabilise the atmospheric concentration of the five major greenhouse gases at an ecologically determined threshold level. In a theoretical optimisation model...

Questions of burden sharing receive increasing attention in the climate change regime. This paper introduces the WESA-mechanism (WESA = Walrasian Equilibrium with the Stand Alone upper bound) for the fair division of common property resources and monetary compensations. Furthermore, the...

This paper distinguishes relative risk aversion and resistance to intertemporal substitution in climate risk modelling. Stochastic recursive preferences are introduced in a stylised numeric climate-economy model using preliminary IPPC 1998 scenarios. It shows that higher risk aversion increases...

In the domain of desertification and climate change an important amount of new knowledge and research material has been obtained from the many projects carried out in the EU-DG12 Environment and Climate programme. However, so far little effort has gone into making this scientific material...

Climate change is widely recognised as a serious threat to the world's environment. The Mediterranean basin is considered as a unique scaled down model to assess the severity of potential climate change impacts on coastal zones. The paper examines the regional differences in the vulnerability of...

A new instrument for hedging weather risks has made its appearance in the financial arena. Trade in 'weather derivatives' has taken off in the US, and interest is growing elsewhere. Whilst such contracts may be simply interpreted as a new tool for solving a historical problem, the question...

Der zunehmende Einsatz von Anlagen zur Bewässerung sowie mangelnde Erfahrungswerte und Unkenntnis über den richtigen Einsatz der künstlichen Bewässerung haben in den letzten Jahrzehnten zu einer massiven Zunahme der Versalzung des Bodens geführt. Durch diese Bodenversalzung werden weite...

Mit dem Förderschwerpunkt »Ökonomie des Klimawandels« förderte das Bundesministerium für Bildung und Forschung 27 Forschungsprojekte, die wirtschaftliche Aspekte des Klimawandels untersuchten. Im Rahmen der Begleitaktivitäten zu diesem Förderschwerpunkt koordinierten das Zentrum für...