This paper investigates how uncertainty affects the optimal intertemporal accumulation of a stock externality using CO2 emissions and the greenhouse effect as a topical pars pro toto. More precisely, the evolution of the future temperature is assumed to follow an Ito-process with the drift...

The success of climate and natural resource protection depends amongst others on the expansion of renewable energies. The policy paper describes the central results of the RESCUE study as well as the challenges and steps required to expand renewable energies in order to achieve greenhouse gas...