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This note considers the treatment of risk and uncertainty in the recently established social cost of carbon (SCC) for … discounting, it mis-estimated climate risk, possibly hugely. Given the uncertainty about estimating the SCC, the note concludes by …
Persistent link: https://www.econbiz.de/10010309048
applicability of the proposed model and its efficiency to control the hybrid uncertainties and the risk level in the network. …
Persistent link: https://www.econbiz.de/10015194803
The social cost of carbon - or marginal damage caused by an additional ton of carbon dioxide emissions - has been estimated by a U.S. government working group at $21/tCO2 in 2010. That calculation, however, omits many of the biggest risks associated with climate change, and downplays the impact...
Persistent link: https://www.econbiz.de/10010308735
The analysis of climate change is confronted with large uncertainties that need to be taken into account to arrive at meaningful policy recommendations. The main contribution of economics to this interdisciplinary task is to provide formal frameworks and techniques for analyzing climate policy...
Persistent link: https://www.econbiz.de/10010313788
firms to shift risk. The paper analyzes the impact of long-run contracts on the time profile of extraction and their … properties with respect to risk allocation. A theoretical frame of reference for risk allocation is developed and different types …
Persistent link: https://www.econbiz.de/10010314396
Persistent link: https://www.econbiz.de/10010272143
has three components: the pure rate of time preference, a measure of relative risk aversion, and the rate of growth of per … respect to consumption is particularly important because it assumes three roles: consumption smoothing over time, risk … rates of risk and inequity aversion can be expected to play significant roles. The consumption growth rate plays multiple …
Persistent link: https://www.econbiz.de/10010298642
This paper in applied theory argues that there is a loose chain of reasoning connecting the following three basic links in the economics of climate change: 1) additive disutility damages may be appropriate for analyzing some impacts of global warming; 2) an uncertain feedback-forcing...
Persistent link: https://www.econbiz.de/10010299496
Seit Mitte der achtziger Jahre haben sich die Finanzierungsstrukturen im Unternehmenssektor in Deutschland spürbar verändert. Dabei gab es deutliche Unterschiede zwischen kleinen, mittleren und großen Unternehmen. Wie sind diese Veränderungen zu bewerten? Ergeben sich daraus...
Persistent link: https://www.econbiz.de/10010301954
Zahlreiche Börsenskandale, die Abnahme der Zahlungsmoral und der Unmut der Bürger angesichts von Reformen lenken das Interesse auf die Bedeutung von Vertrauen für die Marktwirtschaft. Wie notwendig ist Vertrauen für die Wirtschaft und wodurch wird Vertrauen enttäuscht? Erodiert die...
Persistent link: https://www.econbiz.de/10010303120