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Climate Policy Decisions Under Ambiguity and Pressure of Time

Listed author(s):
  • Yu-Fu Chen

    (School of Business, University of Dundee)

  • Michael Funke

    (Department of Economics, Hamburg University and CESifo)

  • Nicole Glanemann

    (International Max Planck Research School on Earth System Modelling (IMPRS-ESM) and Department of Economics, Hamburg University)

This article summarises our studies on the optimal timing of climate policy adoption by focusing on ambiguity in the climate damage cost assessments (Chen et al., 2011) and on the limited time to achieve certain climate policy targets (Chen et al., 2012). Using real options theory, both studies conclude that climate policy adoption should be accelerated. However, the implementation of climate policy is evaded by high uncertainty about critical parameters and possible climate pathways.

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Article provided by Fondazione Eni Enrico Mattei in its journal Review of Environment, Energy and Economics.

Volume (Year): (2013)
Issue (Month): (February)
Pages:

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Handle: RePEc:fem:femre3:2013.02-01
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