Similar Search Results

Should Faustmann forecast climate change?

Gars, Johan; Spiro, Daniel - 2019

approximate optimal management. If changes are observed without too much delay, profit losses and errors in harvesting are …

Persistent link: https://www.econbiz.de/10012018327

Should Faustmann Forecast Climate Change?

Gars, Johan - 2019

approximate optimal management. If changes are observed without too much delay, profit losses and errors in harvesting are …

Persistent link: https://www.econbiz.de/10012866409

The Social Cost of Carbon with Intragenerational Inequality Under Economic Uncertainty

Ploeg, Frederick van der; Emmerling, Johannes; Groom, … - 2022

intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is …

Persistent link: https://www.econbiz.de/10014082790

Faustmann and the climate

Hoel, Michael; Holtsmark, Bjart; Holtsmark, Katinka - 2012

This paper presents an adjusted Faustmann Rule for optimal harvest of a forest in the presence of a social cost of carbon emissions. A contribution of the paper is to do this within theoretical and numerical frameworks that take account of the dynamics and interactions of the forest's multiple...

Persistent link: https://www.econbiz.de/10010288462

The Social Cost of Carbon with Intragenerational Inequality under Economic Uncertainty

van der Ploeg, Rick; Emmerling, Johannes; Groom, Ben - 2022

intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is …

Persistent link: https://www.econbiz.de/10013353389

Global warming and extreme events: Rethinking the timing and intensity of environmental policy

Chen, Yu-Fu; Funke, Michael - 2010

-probability extreme events on environmental policy in a continuous-time real options model with 'tail risk'. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies. …

Persistent link: https://www.econbiz.de/10010270651

Dark clouds or silver linings? Knightian uncertainty and climate change

Chen, Yu-fu; Funke, Michael; Glanemann, Nicole - 2011

This paper examines the impact of Knightian uncertainty upon optimal climate policy through the prism of a continuous-time real option modelling framework. We analytically determine optimal intertemporal climate policies under ambiguity. Additionally, numerical simulations are provided to...

Persistent link: https://www.econbiz.de/10010277366

On Welfare Frameworks and Catastrophic Climate Risks

Millner, Antony - 2013

Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to fat-tailed' risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...

Persistent link: https://www.econbiz.de/10010328782

The Impact of Uncertainty on the European Energy Market: A Scenario Aggregation Approach

Brekke, Kjell Arne; Golombek, Rolf; Kaut, Michal; … - 2013

We present a simple approach to transform a deterministic numerical model, where several agents simultaneously make decisions, into a stochastic model. This approach, which builds on scenario aggregation, a numerical method developed to solve decision problems under uncertainty, is used to build...

Persistent link: https://www.econbiz.de/10010328792

Fair Intergenerational Utilitarianism: Risk, its Resolution over Time, and Discounting

Piacquadio, Paolo Giovanni - 2014

The paper reexamines the welfare economics of intergenerational risk. Risk and its resolution over time are modeled as … preferences to (i) disentangle aversion to intergenerational inequality from aversion to risk, (ii) exhibit a preference for early … resolution of risk, (iii) show different discounting formulas depending on the magnitude of risk and on the timing of its …

Persistent link: https://www.econbiz.de/10010480801