investment into production of renewable energy. Viable optima are obtained either with gradual or with instantaneous adoption. A … until the time horizon, the higher the investment into renewable energy. …

resources under ecological irreversibility, and with the possibility to switch to a backstop technology. …

worse happen) has to be balanced with the investment irreversibility (risk of over-cautious policies). To explore this … model, we find that most of the times the environmental irreversibility dominates the investment irreversibility. For all …In the climate change issue, the environmental irreversibility (risk of an acceleration of mitigation policies if the …

, gas, and renewable power plants). It finds that optimal investment in renewable energy may start before coal power has … been phased out and even before investment in gas has started, because doing so allows for smoothing investment over time … and reduces adjustment costs. Gas plants may be used to reduce short-term investment in renewable power and associated …

represented by the decrease in entropy of his beliefs, regardless of his preferences, initial wealth, or investment problem. We …