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The benefits of cooperation under uncertainty: the case of climate change

  • BRECHET, Thierry
  • THENIE, Julien
  • ZEIMES, Thibaut
  • ZUBER, Stéphane

This article presents an analysis of the behavior of countries defining their climate policies in an uncertain context. The analysis is made using the S-CWS model, a stochastic version of an integrated assessment growth model. The model includes a stochastic definition of the climate sensitivity parameter. We show that the impact of uncertainty on policy design critically depends on the shape of the damage function. We also examine the benefits of cooperation in the context of uncertainty: we highlight the existence of an additional benefit of cooperation, namely risk reduction.

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File URL: http://dx.doi.org/10.1007/s10666-011-9281-3
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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers RP with number -2435.

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Handle: RePEc:cor:louvrp:-2435
Note: In : Environmental Modeling Assessment, 17(1-2), 149-162, 2012
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  1. Frederick Ploeg & Aart Zeeuw, 1992. "International aspects of pollution control," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 2(2), pages 117-139, March.
  2. Manne, Alan & Mendelsohn, Robert & Richels, Richard, 1995. "MERGE : A model for evaluating regional and global effects of GHG reduction policies," Energy Policy, Elsevier, vol. 23(1), pages 17-34, January.
  3. BRECHET, Thierry & EYCKMANS, Johan & GERARD, François & MARBAIX, Philippe, . "The impact of the unilateral EU commitment on the stability of international climate agreements," CORE Discussion Papers RP -2217, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. BRECHET, Thierry & CAMACHO, Carmen & VELIOV, Vladimir, 2010. "Model predictive control, the economy, and the issue of global warming," CORE Discussion Papers 2010016, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. BRECHET, Thierry & GERARD, François & TULKENS, Henry, 2007. "Climate coalitions: a theoretical and computational appraisal," CORE Discussion Papers 2007003, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Jean-Charles Hourcade & Philippe Ambrosi & Stéphane Hallegatte & Franck Lecocq & Patrice Dumas & Minh Ha-Duong, 2003. "Optimal control models and elicitation of attitudes towards climate damages," Post-Print halshs-00000966, HAL.
  7. Valentina Bosetti & Massimo Tavoni, 2007. "Uncertain R&D, Backstop Technology and GHGs Stabilization," Working Papers 2007.6, Fondazione Eni Enrico Mattei.
  8. Bosetti, Valentina & Carraro, Carlo & Sgobbi, Alessandra & Tavoni, Massimo, 2008. "Delayed Action and Uncertain Targets. How Much Will Climate Policy Cost?," CEPR Discussion Papers 6973, C.E.P.R. Discussion Papers.
  9. Basili, Marcello & Chateauneuf, Alain & Fontini, Fulvio, 2008. "Precautionary principle as a rule of choice with optimism on windfall gains and pessimism on catastrophic losses," Ecological Economics, Elsevier, vol. 67(3), pages 485-491, October.
  10. Chichilnisky, Graciela, 2000. "An axiomatic approach to choice under uncertainty with catastrophic risks," Resource and Energy Economics, Elsevier, vol. 22(3), pages 221-231, July.
  11. Valentina Bosetti, Carlo Carraro, Marzio Galeotti, Emanuele Massetti, Massimo Tavoni, 2006. "A World induced Technical Change Hybrid Model," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 13-38.
  12. Atkinson, Giles D. & Dietz, Simon & Helgeson, Jennifer & Hepburn, Cameron & Sælen, Håkon, 2009. "Siblings, not triplets: social preferences for risk, inequality and time in discounting climate change," Economics Discussion Papers 2009-14, Kiel Institute for the World Economy.
  13. EYCKMANS, Johan & TULKENS, Henry, 1999. "Simulating coalitionally stable burden sharing agreements for the climate change problem," CORE Discussion Papers 1999026, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  14. GERMAIN, Marc & TOINT, Philippe & TULKENS, Henry & DE ZEEUW, Aart, . "Transfers to sustain dynamic core-theoretic cooperation in international stock pollutant control," CORE Discussion Papers RP -1637, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  15. Valentina Bosetti & Carlo Carraro & Marzio Galeotti & Emanuele Massetti & Massimo Tavoni, 2006. "WITCH. A World Induced Technical Change Hybrid Model," Working Papers 2006_46, Department of Economics, University of Venice "Ca' Foscari".
  16. Shaw, W. Douglass & Woodward, Richard T., 2008. "Why environmental and resource economists should care about non-expected utility models," Resource and Energy Economics, Elsevier, vol. 30(1), pages 66-89, January.
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