The welfare bias from omitting climatic variability in economic studies of global warming
Article Abstract:
Uncertainty in climatic changes has been found out to yield greater impact on global warming welfare effects than climatic change itself as shown by a welfare analysis using a stochastic growth model. Empirical results proved that losses from climatic change tend to be higher with variability than with out it. Furthermore, it was shown that scope of adaption has a significant effect on the impact of global warming, which means systems which have greater adapting capacities tend to be affected more than those with limited ones. It was also revealed that models with greater degree of variability tend to be more responsive to rate variations of climatic change.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1997
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Valuing managerial flexibility: an application of real-option theory to mining investments
Article Abstract:
Research is presented concerning the use of data on costs, prices, reserves, ore extraction, grades and metal output to determine the value of managerial flexibility in a selection of copper mines in Canada.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 2001
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El Nino, expectations, and fishing effort in Monterey Bay, California
Article Abstract:
The effects of sea surface temperatures and catch prices on fishing effort for albacore tuna were analyzed using vector autoregressions and a dynamic linear rational expectations model.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 2001
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