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since added another wrinkle, by pointing to the need to separate risk aversion from intertemporal substitution to calibrate …-Zin preferences in economic analyses of climate change …
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A group of decision makers simultaneously make contributions towards a green fund that reduces the future probability of a climate catastrophe. We derive the theoretical predictions of the effects on contributions arising from 'behavioral parameters' such as loss aversion and present-bias;...
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(particularly over the possibility of a catastrophic climate outcome) creates insurance value, which pushes us to earlier and …
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