Los escenarios de mitigación climática son una herramienta esencial para analizar las implicaciones macroeconómicas y financieras del cambio climático (riesgo físico), y cómo podría desarrollarse la transición hacia una economía baja en carbono (riesgo de transición). La Red para la...

Market approaches to limit CO2e emissions such as carbon taxes and emissions trading schemes (ETSs) aim to avoid dangerous anthropogenic climate change by ascribing a financial cost to emissions. Yet such approaches have failed to establish either emissions limits or carbon prices equal to the...

This paper evaluates Nordhaus’s neoclassical complaints about the Stern Review from the vantage point of classical growth theory. Nordhaus argues that the Stern Review exaggerates the effects of global warming because it uses a discount rate that is well below the market rate of return on...

Recent research has demonstrated that choices between gambles are systematically influenced by the way they are expressed. Kahneman and Tversky's Prospect Theory (1979) explains many of these "framing" effects as shifts in the point of reference from which prospects are evaluated. This paper...

We consider an extension of the classical secretary problem where a decision maker observes only the relative ranks of a sequence of up to N applicants, whose true values are i.i.d. U[0,1] random variables. Applicants arrive according to a homogeneous Poisson Process, and the decision maker...