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Managing climate change under uncertainty : recursive integrated assessment at an inflection point
Lemoine, Derek; Rudik, Ivan - 2016
Persistent link: https://www.econbiz.de/10011893611
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Managing climate change under uncertainty : recursive integrated assessment at an inflection point
Lemoine, Derek; Rudik, Ivan - 2017
Persistent link: https://www.econbiz.de/10011688152
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Managing Climate Change Under Uncertainty : Recursive Integrated Assessment at an Inflection Point
Lemoine, Derek - 2017
Uncertainty is critical to questions about climate change policy. Recently developed recursive integrated assessment models have become the primary tools for studying and quantifying the policy implications of uncertainty. We decompose the channels through which uncertainty affects policy and...
Persistent link: https://www.econbiz.de/10012967621
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Adapting to climate change : an analysis under uncertainty
García-León, David - 2016
composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …
Persistent link: https://www.econbiz.de/10011451547
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Pricing climate risk
Jensen, Svenn; Traeger, Christian - 2021
derive a general analytic formula for the "risk premium" governing the resulting climate policy. The formula generalizes … making under uncertainty. It clarifies the distinct roles of risk aversion, prudence, characteristics of the damage … formulation, and future policy response. We show that an optimal response to uncertainty substantially reduces the risk premium. …
Persistent link: https://www.econbiz.de/10012597858
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Managing climate change under uncertainty : recursive integrated assessment at an inflection point
Lemoine, Derek; Rudik, Ivan - In: Annual review of resource economics 9 (2017), pp. 117-142
Persistent link: https://www.econbiz.de/10011906955
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The effect of learning on climate policy under fat-tailed risk
Hwang, In Chang; Reynès, Frédéric; Tol, Richard S. J. - In: Resource and energy economics 48 (2017), pp. 1-18
Persistent link: https://www.econbiz.de/10011775726
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Building uncertainty into the adaptation cost estimation in integrated assessment models
Markandya, Anil; De Cian, Enrica; Drouet, Laurent; … - 2016
uncertainty into Integrated Assessment Models (IAMs). Uncertainty is transformed into a risk-premium, damage-correction, region …. This risk premium quantifies what society would be willing to pay to insure against the uncertainty of the damages, and it … highly sensitive to the coefficient of relative risk aversion. Once the climate change damage function incorporates the risk …
Persistent link: https://www.econbiz.de/10011451668
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A simple framework for climate-change policy under model uncertainty
Athanasoglou, Stergios; Bosetti, Valentina; Drouet, Laurent - 2016
We propose a novel framework for the economic assessment of climate-change policy. Our main point of departure from existing work is the adoption of a "satisficing", as opposed to optimizing, modeling approach. Along these lines, we place primary emphasis on the extent to which different...
Persistent link: https://www.econbiz.de/10011614242
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Robust Control in Global Warming Management : An Analytical Dynamic Integrated Assessment
Hennlock, Magnus - 2009
Imperfect measurement of uncertainty (deeper uncertainty) in climate sensitivity is introduced in a two-sectoral integrated assessment model (IAM) with endogenous growth, based on an extension of DICE. The household expresses ambiguity aversion and can use robust control via a 'shadow ambiguity...
Persistent link: https://www.econbiz.de/10013160096