Standard risk economic analysis suggests that global environmental risk is lower in the case of risk aversion than in the case of risk neutrality or risk seeking. Maybe the reason why the Advisory Council of the German Government on Global Environmental Change (WBGU) explicitly recommends to...

Strategies of international risk management, as the implementation of tradable emission permits, feed back to the incentive structure of a treaty, like the Kyoto Protocol. Discussing the Kyoto Protocol the question was: Should there be any restrictions on the trading of emission permits or not?...

Standard risk economic analysis suggests that global environmental risk is lower in the case of risk aversion than in the case of risk neutrality or risk seeking. Maybe the reason why the Advisory Council of the German Government on Global Environmental Change (WBGU) explicitly recommends to...