reduce the externality, because individuals care more about the environment if their income is higher or if pollution is more …

there is uncertainty about the marginal costs of the newly merged firms. The authors consider that the merging firms decide … always have incentives to merge, irrespective of cost uncertainty, while a merger without role redistribution is ex ante … profitable if and only if uncertainty is sufficiently great. As regards the social desirability of mergers, it is found that a …

market set-up that accounts for fundamental uncertainty. Nonetheless, the market is designed so that its total value is known …

The paper proposes a novel way to handle the relation between decision theory and uncertainty in the context of policy …

firms reduce their investments by about 50% more than private firms in response to an increase in policy-related uncertainty … uncertainty. Thus, private firms may benefit from emulating the decision-making processes of public firms in uncertain times. …

discounting, it mis-estimated climate risk, possibly hugely. Given the uncertainty about estimating the SCC, the note concludes by …This note considers the treatment of risk and uncertainty in the recently established social cost of carbon (SCC) for …