We study optimal fishery management in an age-structured, bio-economic model where two age classes can be harvested independently. We show that the optimal amount of catch differs with age classes, and we derive conditions under which it is optimal to harvest only one age class. Our main policy...

Efficiency and sustainability often clash if limited-tenure use rights for renewable natural resources are rented to private resource managers. We introduce a mechanism reconciling these two issues for a stochastically developing natural resource. The mechanism selects the most patient and,...

Selecting appropriate indicators is essential to aggregate the information provided by climate model outputs into a manageable set of relevant metrics on which assessments of climate engineering (CE) can be based. From all the variables potentially available from climate models, indicators need...

Eine rasche Reduktion der Treibhausgasemissionen ist essentiell, wenn ambitionierter Klimaschutz erreicht werden soll. Bei der Abschätzung der dafür notwendigen Anstrengungen und der Bewertung des zukünftigen Beitrags von Technologien, die es erlauben, der Atmosphäre CO2 zu entziehen...

Radiation management (RM) has been proposed as a conceivable climate engineering (CE) intervention to mitigate global warming. In this study, we used a coupled climate model (MPI-ESM) with a very idealized setup to investigate the efficacy and risks of CE at a local scale in space and time...

Carbon sequestration and storage in mangroves, salt marshes and seagrass meadows is an essential coastal ‘blue carbon’ ecosystem service for climate change mitigation. Here we offer a comprehensive, global and spatially explicit economic assessment of carbon sequestration and storage in...

We study a commons problem under uncertainty, where individual actions affect the risk of a future damage event. We show that for risk-averse agents, an extra risk on the amount of the damage induces more precautionary actions in Nash equilibrium. Similarly, for prudent agents an extra risk in...

Climate engineering (CE) deployment would alter prevailing relationships between Earth system variables, making indicators and metrics used so far in the climate change-assessment context less appropriate to assess CE measures. Achieving a comprehensive CE assessment requires a systematic and...

Past CO 2 emissions have been causing social costs and continue to reduce wealth in the future. Countries differ considerably in their amounts and time profiles of past CO 2 emissions. Here we calibrate an integrated assessment model on past economic and climate development to estimate the...

Projections of climate change damages based on climate-econometric estimates suggest that, without mitigation, global warming could reduce average global incomes by over 20% towards the end of the century (Burke et al., 2015). This figure significantly surpasses climate damages in Integrated...