Global Environmental Risks
AbstractWe consider the economics of global environmental risks. In this area, we are dealing with risks that are poorly understood, endogenous, collective, and irreversible. In policy terms, the nature and extent of uncertainty about global climate change implies that society's position will be dominated by two questions: What cost is worth incurring to reduce the poorly-understood risk of climate change, or to improve our understanding of the risk? How may existing social institutions, such as insurance contracts and securities markets, be used to provide the most efficient allocation of the risks associated with global climate change?
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Bibliographic InfoArticle provided by American Economic Association in its journal Journal of Economic Perspectives.
Volume (Year): 7 (1993)
Issue (Month): 4 (Fall)
Other versions of this item:
- Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39.
- Wise, Sherry & Johnson, Stanley R. & Just, Richard E. & Bockstael, Nancy, 1991. "Commodity and Resource Policies in Agricultural Systems," Staff General Research Papers 396, Iowa State University, Department of Economics.
- Pindyck, Robert, 1989.
"Irreversibility, uncertainty, and investment,"
Policy Research Working Paper Series
294, The World Bank.
- Pindyck, Robert S., 1990. "Irreversibility, uncertainty, and investment," Working papers 3137-90., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Robert S. Pindyck, 1990. "Irreversibility, Uncertainty, and Investment," NBER Working Papers 3307, National Bureau of Economic Research, Inc.
- Malinvaud, E., 1972. "The allocation of individual risks in large markets," Journal of Economic Theory, Elsevier, vol. 4(2), pages 312-328, April.
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