Showing 1 - 10 of 35
Persistent link: https://www.econbiz.de/10010537412
Persistent link: https://www.econbiz.de/10009493707
Persistent link: https://www.econbiz.de/10008592472
Persistent link: https://www.econbiz.de/10008592497
We analyze the impact of damage uncertainty on optimal mitigation policies in the integrated assessment of climate change. Usually, these models analyzeuncertainty by averaging deterministic paths. In contrast, we build a consistentmodel deriving optimal policy rules under persistent...
Persistent link: https://www.econbiz.de/10009493686
California and Sweden are both leaders in green regulations and actions. In both there is a substantial political base for environmental regulation, yet the path to regulation in these two political entities is quite different. California emphasizes command and control regulations while Sweden...
Persistent link: https://www.econbiz.de/10009493696
Persistent link: https://www.econbiz.de/10009493698
The prevailing literature discusses intergenerational trade-offs in climatechange predominantly in terms of the Ramsey equation relying on the infinitelylived agent model. We discuss these trade-offs in a continuous time OLG framework and relate our results to the infinitely lived agent setting....
Persistent link: https://www.econbiz.de/10009646060
The paper analyzes the discount rate under uncertainty. The analysis complements the probabilistic characterization of uncertainty by a measure of confidence. Special cases of the model comprise discounting under smooth ambiguity aversion as well as discounting under a disentanglement of risk...
Persistent link: https://www.econbiz.de/10009646069
Uncertainty has an almost negligible impact on project value in the economicstandard model. I show that a comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the discount rate, which is the crucial determinant in balancing...
Persistent link: https://www.econbiz.de/10009646074