We assess the feasibility, optimality, and policy implications of Environmental, Social, and Corporate Governance (ESG)-linked or "green" lending in a credit market where banks incorporate such non-financial data in credit allocation decisions. We identify an asymmetric information problem:...

We assess the feasibility, optimality, and policy implications of Environmental, Social, and Corporate Governance (ESG)-linked or “green” lending in a credit market where banks incorporate such non-financial data in credit allocation decisions. We identify an asymmetric information problem:...

Solar geoengineering (SGE) can combat climate change by directly reducing temperatures. Both SGE and the climate itself are surrounded by great uncertainties. Implementing SGE affects learning about these uncertainties. We model endogenous learning over two uncertainties: the sensitivity of...

We survey the growing literature on fat-tailed distributions in environmental economics. We then examine the theoretical and statistical properties of such distributions, focusing especially on when these properties are likely to arise in environmental problems. We find that a number of...

We demonstrate constraints on usage of direct revelation mechanisms (DRMs) by corporations inhabiting economies with securities markets. We consider a corporation seeking to acquire decision relevant information. Posting a standard DRM in an environment with a securities market endogenously...

We study stabilization targets: common environmental policy recommendations that specify a maximum probability of an environmental variable exceeding a fixed target (e.g. limit climate change to at most 2°C above preindustrial). Previous work generally considers stabilization targets under...