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A Dynamic Game of Emissions Pollution with Uncertainty and Learning
Masoudi, Nahid - 2014
We introduce learning in a dynamic game of international pollution, with ecological uncertainty. We characterize and … ecological uncertainty but they gain information (learn) about it. We then compare our learning model with the benchmark model of … full information, where players know the distribution of ecological uncertainty. We find that uncertainty due to …
Persistent link: https://www.econbiz.de/10013050176
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Riskiness, risk aversion, and risk sharing: cooperation in a dynamic insurance game
Laczó, Sarolta (contributor) - 2008
This paper examines how cooperation in an insurance game depends on risk preferences and the riskiness of income. It … of the discount factor above which perfect risk sharing is self-enforcing. When agents face no aggregate risk, there is … of idiosyncratic and aggregate risk. In the case of exponential (isoelastic) utility, cooperation depends positively on …
Persistent link: https://www.econbiz.de/10003770693
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Strategic Exploitation of a Common Resource Under Environmental Risk
Fesselmeyer, Eric; Santugini, Marc - 2014
We study the effect of environmental risk on the extraction of a common resource. Using a dynamic and non … anticipation of such an event has an ambiguous effect on extraction and the tragedy of the commons. A risk of a reduction in the … renewability induces the agents to extract less today while a risk of a deterioration in the quality has the opposite effect …
Persistent link: https://www.econbiz.de/10014176447
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Strategic Exploitation of a Common Resource under Environmental Risk
Fesselmeyer, Eric - 2014
We study the effect of environmental risk on the extraction of a common resource. Using a dynamic and non … anticipation of such an event has an ambiguous effect on extraction and the tragedy of the commons. A risk of a reduction in the … renewability induces the agents to extract less today while a risk of a deterioration in the quality has the opposite effect …
Persistent link: https://www.econbiz.de/10013070501
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Prices versus quantities reassessed
Karp, Larry S.; Traeger, Christian - 2018
technological uncertainty favors taxes over cap and trade. Weitzman models a flow pollutant, but greenhouse gases are persistent …
Persistent link: https://www.econbiz.de/10011927948
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Smart cap
Karp, Larry S.; Traeger, Christian - 2021
We introduce a "smart" cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty …
Persistent link: https://www.econbiz.de/10012438358
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Can uncertainty alleviate the commons problem?
Bramoullé, Yann; Treich, Nicolas - In: Journal of the European Economic Association 7 (2009) 5, pp. 1042-1067
Persistent link: https://www.econbiz.de/10003889751
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Increase in risk and its effects on welfare and optimal policies in a dynamic setting : the case of global pollution
Grafton, R. Quentin; Kompas, Tom; Long, Ngo Van - In: The Geneva risk and insurance review 39 (2014) 1, pp. 40-64
Persistent link: https://www.econbiz.de/10011297055
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The impact of uncertainty on investment : a meta-analysis
Koetse, Mark J.; Groot, Henri L. F. de; Florax, Raymond … - 2006
In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since … can explain to a large extent why empirical estimates of the investment-uncertainty relationship differ. …
Persistent link: https://www.econbiz.de/10011349194
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Overpricing persistence in experimental asset markets with intrinsic uncertainty
Sornette, Didier; Andraszewicz, Sandra; Wu, Ke; Murphy, … - 2019
market set -up that accounts for fundamental uncertainty. Nonetheless, the market is designed so that its total value is …
Persistent link: https://www.econbiz.de/10012001782