under uncertainty about the value of environmental services and irreversible development. We study land conversion under … adequate participation in a conservation plan. We analytically determine the impact of uncertainty and optimal policy …

Uncertainty plays a key role in the economics of climate change, and the discussions surrounding its implications for … climate policy are far from settled. We give an overview of the literature on uncertainty in integrated assessment models of … complementary approaches that model uncertainty in association with integrated assessment models: the discrete uncertainty modeling …

Realized divergence gauges the distinct realized moments associated with time-varying uncertainty and is tradeable with …-free option markets, implied divergence systematically decomposes the price of uncertainty into the contributions of distinct …

-lived securities. We show that this result generically fails if there is Knightian uncertainty in the volatility. Implementation is …

demonstrates a multistage stochastic programming framework for catastrophe modeling with endogenous uncertainty, applied to a … setting with endogenous uncertainty leads to more stringent climate policy recommendations (increasing the CO2 control rate by …

Uncertainty plays a key role in the economics of climate change, and the discussions surrounding its implications for … climate policy are far from settled. We give an overview of the literature on uncertainty in integrated assessment models of … complementary approaches that model uncertainty in association with integrated assessment models: the discrete uncertainty modeling …