We discuss risk, preference and valuation in classical economics, which led academics to develop a theory of market prices, resulting in the general equilibrium theories. However, in practice, the decision process does not follow that theory since the qualitative aspect coming from human...

While the question of the trillions of dollars required to both mitigate and adapt to climate change is more pressing now than ever, only a financial mechanism can scale up capital to such an extent. However, climate risk represents the inability to predict the global mean surface temperature...