Climate risks have always been amongst the most important faced by human societies. Today the concern has new elements: the global nature of possible changes and the fact that they are driven by human activity. The risks posed by climate change are therefore endogenous and so outside of the...

This volume provides a rigorous and analytical perspective on the pressing issue of making economic progress consistent with environmental conservation. It proposes formal definitions of sustainability, embeds them in dynamic models and models of uncertainty, and explores the concepts and their...

This paper reviews a range of issues relating to tradeable carbon dioxide quotas. It considers the economic principles on which they are based, compares them with alternative carbon abatement policies, and reviews many aspects of how tradeable quotas would be implemented in practice ...