is a new risk factor for enterprises taking part in this system. In this paper, we analyze how risk emerging from … loss account accounting for uncertainties and dependencies. Consequently, this model provides a basis for risk assessment …

-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies. -- Climate Policy ; Extreme Events …

-probability extreme events on environmental policy in a continuous-time real options model with "tail risk". In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies. -- climate policy ; extreme events …

assumption of (intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the … importance of risk and correlation. Second, debate and models largely overlook the difference in attitude with respect to risk … and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …

social risk (what kind of societies will future people be born into) rather than individual risk (what will happen to people …

Sensitivity (proportionality) of willingness to pay to (small) risk changes is often used as a criterion to test for … asked their willingness to pay (WTP) for preventing an increase in the risk of being killed in an avalanche of 1/42,500 and … 3/42,500 respectively. WTP for the higher variation in risk is significantly greater than WTP for the lower risk change …