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The current state-of-the-art in flood damage analysis mainly focuses on the economic evaluation of tangible flood effects. It is contended in this discussion paper that important economic, social and ecological aspects of flood-related vulnerabilities are neglected. It is a challenge for flood...
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. Uncertainty about the future rate of growth of the economy and emissions and the risk of macroeconomic disasters (tail risks) also …
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A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...
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effects of uncertainty about climate sensitivity, the shape of the damage function, and the discount rate. We show that the …
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the effects of uncertainty about climate sensitivity, the shape of the damage function, and the discount rate. We show …
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Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a … comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the … and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …
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