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Negotiating to Avoid "Gradual" versus "Dangerous" Climate Change: An Experimental Test of Two Prisoners' Dilemma

Barrett, Scott; Dannenberg, Astrid - CESifo - 2014

According to the Framework Convention on Climate Change, global collective action is needed to stabilize “greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous [our emphasis] anthropogenic interference with the climate system.” The Framework Convention thus...

Persistent link: https://www.econbiz.de/10010734324

A balance of questions: what can we ask of climate change economics?

School of Economics, University of Edinburgh - 2013

possibility of catastrophe, since we are unable to evaluate a risk averse representative agent's expected utility when there is …

Persistent link: https://www.econbiz.de/10010877076

A balance of questions: what can we ask of climate change economics?

Comerford, David - Agricultural and Applied Economics Association - AAEA - 2013

possibility of catastrophe, since we are unable to evaluate a risk averse representative agent's expected utility when there is …

Persistent link: https://www.econbiz.de/10010879014

A Precautionary Tale of Uncertain Tail Fattening

Weitzman, Martin - In: Environmental & Resource Economics 55 (2013) 2, pp. 159-173

Suppose that there is a probability density function for how bad things might get, but that the overall rate at which this probability density function slims down to approach zero in the tail is uncertain. The paper shows how a basic precautionary principle of tail fattening could then apply....

Persistent link: https://www.econbiz.de/10010862794

Sufficient and Necessary Conditions for Non-Catastrophic Growth

AZNAR-MARQUEZ, Juana; RUIZ-TAMARIT, Jose-Ramon - Institut de Recherche Économique et Sociale (IRES), … - 2012

if the accumulated stock of pollutants is on the threshold of a worldwide catastrophe. In this context dominated by …

Persistent link: https://www.econbiz.de/10011075059

A balance of questions: what can we ask of climate change economics?

Comerford, David - Scottish Institute for Research in Economics (SIRE) - 2013

possibility of catastrophe, since we are unable to evaluate a risk averse representative agent's expected utility when there is …

Persistent link: https://www.econbiz.de/10011075699

Climate treaties and approaching catastrophes

Barrett, Scott - In: Journal of Environmental Economics and Management 66 (2013) 2, pp. 235-250

If the threshold that triggers climate catastrophe is known with certainty, and the benefits of avoiding catastrophe … net benefits of avoiding catastrophe are lower, treaties typically fail to help countries cooperate to avoid catastrophe …, sustaining only modest cuts in emissions. These results are unaffected by uncertainty about the impact of catastrophe. By …

Persistent link: https://www.econbiz.de/10011043098

Cheering Up the Dismal Theorem

McKitrick, Ross - Department of Economics and Finance, College of … - 2012

utility (MU) goes to negative infinite faster than the rate at which the probability of catastrophe goes to zero, and for the …

Persistent link: https://www.econbiz.de/10010535499

High impact, low probability? An empirical analysis of risk in the economics of climate change

Dietz, Simon - London School of Economics (LSE) - 2009

To what extent does economic analysis of climate change depend on low-probability, high-impact events? This question has received a great deal of attention lately, with the contention increasingly made that climate damage could be so large that societal willingness to pay to avoid extreme...

Persistent link: https://www.econbiz.de/10010746080

Financial Innovation in Property Catastrophe Reinsurance: The Convergence of Insurance and Capital Markets

Chichilnisky, Graciela - Volkswirtschaftliche Fakultät, … - 1996

The property catastrophe reinsurance industry faces a major challenge. Since 1989, climatic volatility has produced … financial instruments that can be successfully used to hedge unknown catastrophe risks. …

Persistent link: https://www.econbiz.de/10005619352