... Sensitivity checks Lobbying Investment under Uncertainty Emission Markets Energy Investment Real Option The importance of environmental issues in the policy arena has changed substantially over the last decades. Issues such as acid rain, the depletion of the ozone layer and climate change have put...

...This chapter examines the effects of combining an international cap-and-trade scheme with national carbon taxes. We consider a two-country stochastic partial equilibrium model with log-normally distributed uncertainty. The situation is analogous to the situation where European countries impose...

... assessment models in the context of climate stabilization and considers optimal climate policy under uncertainty on climate sensitivity. Atmospheric concentration ceiling Ceiling Climate change risks Temperature rise global mean Climate stabilization integrated assessment in context of European Union EU...

...This book promotes an open and responsible process of evaluating the prospect of protocells. It can foster constructive reflection and discussion that will help stakeholders become informed and involved. The first section of this book treats risk, uncertainty, and precaution with protocells...

... the brain can be used to explain neural responses related to the learning of contextual uncertainty, and whether one can apply a model-based approach to predict electrophysiological response related to contextual surprise. Model based analyses Action selection Information theory Model comparison...

... gBM Permit prices and volatility Environmental policy Energy Investment Investment Under Uncertainty Clean Development Mechanism Emission Markets Climate Change Negotiations for a legally binding international agreement to combat climate change have reached a stalemate, and proposals...

... and development of information sources independent of commercial interests, (e) helping clinicians communicate uncertainty to their patients. Recommendations are also made to correct and/or avoid imbalances in the delivery of health information. Powerful stakeholders can influence the production of evidence...

..., a decomposition analysis is used to identify the key uncertainties underlying the confidence interval. The carbon tax swap is shown to produce statistically significant gains in key variables, including social welfare, along with significant reductions in pollution. The method is also shown to have important...

... in such settings calls for efforts to harness reflexivity, enhance adaptability, and cope with increased uncertainty. Dealing with reflexivity requires the creation of negative feedback mechanisms that kick in when systems move toward a tipping point or point of no return. Enhancing adaptation involves...

...In this chapter the two features of uncertainty and the variability of the velocity of money are considered. Both of these are fundamental to considering the more subtle features of a monetary economy. They are interlinked and both add further complex features to the information, perception...

...This chapter traces how the treatment of inflation expectations in the Phillips curve framework has evolved over time. The discussion includes the New Keynesian Phillips curve, inflation-determination without a Phillips curve, and new ideas about modeling the effects of uncertainty and inertia. Two...

... be involved in the ratification process, in the formulation of the unilateral domestic policy, or in both. We study how uncertainty with respect to the preferences of this second domestic player affects the commitment level required by the agreement. We find a non-monotonic impact: for increasing variance...

... is necessary to get a better start in multi-stakeholder projects. It concludes that characteristics of policy problems, including knowledge uncertainty, are to be taken into account so that complex issues related to air pollution and health can be framed. Health Netherlands The PBL Netherlands Environmental...

... mind based on practical reasoning, and decides how things stand in some matter, thereby coming to have a certain belief. In both types, there is a level of uncertainty in one’s mind, and one seeks a resolution by engaging in the appropriate sort of reasoning. The acquired attitudes in deciding are also...

...Focusing on the Latin American region, this chapter considers how the fear of uncertainty over not only the election outcome but also the policy reforms or reversals of a future government can be generated by elections, especially when the parties have not held office before. The varying factors...

... of radical uncertainty by Knight and Keynes. Classification postulate regarding states of the world Conventions Fundamental value Stocks Value Keynes John Maynard Money Neoclassical theory Savage Leonard Uncertainty Intrinsic value Risk taking and investment decisions Neoclassical finance...

.... Perhaps no single episode is more revelatory of the discomfort economists feel in the presence of inconvenient facts than the 1952 encounter between Savage and Allais, where Savage was led to reject his own choice criterion for decision-making under uncertainty. Yet no attempt has been made since to come...

...Corporate managers who face both strategic uncertainty and market uncertainty confront a classic trade-off between commitment and flexibility. They can stake a claim by making a large capital investment today, influencing their rivals’ behavior; or they can take a “wait and see” approach to avoid...

... and thermal fluctuations Casimir Hendrik Joannopoulos John D Johnson Steven G Quantum Forces Quantum mechanics Quantum physics Void vacuum Heisenberg Werner Accelerometers Entropy Heisenberg’s uncertainty principle Newtonian mechanics Virtual photons Dirac Paul Einstein Albert Higgs Peter...

... generation to implement the mission as well as processing the results. He explains that although it is hard to believe, uncertainty also hovers over the Galileo space programme meaning they also have to consider that the impos∫sible could actually occur. He relates how in Galileo they ‘manufacture’ their own...