This article explores the difficulties faced by regulators when they decide to regulate greenhouse gas emissions. For a long time, there was sufficient scientific uncertainty as to encourage a 'wait and see' approach. More recently, as the science has hardened with the release of the IPCC Fourth...

Decisions involving risk are usually taken in the presence of other insurable or non-insurable risks, the latter type called background risk. We examine how changing background risk influences risk-taking based on panel data with monthly observations from Senegalese fishermen. Fishing income is...