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	Provedor de dados AgEcon (5) Autor Tsur, Yacov (5) Karp, Larry S. (2) Zemel, Amos (2) Leizarowitz, Arie (1) Palavra-chave Event uncertainty (5) Environmental Economics and Policy (3) Abrupt climate change (2) Biodiversity (2) C61 (2) C73 (2) Catastrophic risk (2) D63 (2) D99 (2) Ecosystem (2) Extinction (2) Hyperbolic discounting (2) Markov Perfect Equilibria (2) Q54 (2) Resource /Energy Economics and Policy (2) Resource management (2) Markov decision process (1) Optimal stationary policy (1) Risk and Uncertainty (1) Stochastic stock dynamics (1) Mais... Tipo do documento Working or Discussion Paper (5) Ano 2009 (1) 2007 (2) 2005 (1) 2004 (1) País United States (5) Idioma Inglês (5)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 5 Primeira ... 1 ... Última Climate Policy When the Distant Future Matters: Catastrophic Events with Hyperbolic Discounting AgEcon Karp, Larry S.; Tsur, Yacov. Low probability catastrophic climate change can have a significant influence on policy under hyperbolic discounting. We compare the set of Markov Perfect Equilibria (MPE) to the optimal policy under time-consistent commitment. For some initial levels of risk there are multiple MPE; these may involve either excessive or insufficient stabilization effort. These results imply that even if the free-rider problem amongst contemporaneous decision-makers were solved, there may remain a coordination problem amongst successive generations of decision-makers. A numerical example shows that under plausible conditions society should respond vigorously to the threat of climate change. Tipo: Working or Discussion Paper Palavras-chave: Abrupt climate change; Event uncertainty; Catastrophic risk; Hyperbolic discounting; Markov Perfect Equilibria; Environmental Economics and Policy; Risk and Uncertainty; C61; C73; D63; D99; Q54. Ano: 2007 URL: http://purl.umn.edu/7186 CLIMATE POLICY WHEN THE DISTANT FUTURE MATTERS: CATASTROPHIC EVENTS WITH HYPERBOLIC DISCOUNTING AgEcon Karp, Larry S.; Tsur, Yacov. Low probability catastrophic climate change can have a signifcant influence on policy under hyperbolic discounting. We compare the set of Markov Perfect Equilibria (MPE) to the optimal policy under time-consistent commitment. For some initial levels of risk there are multiple MPE; these may involve either excessive or insufficient stabilization effort. These results imply that even if the free-rider problem amongst contemporaneous decision-makers were solved, there may remain a coordination problem amongst successive generations of decision-makers. A numerical example shows that under plausible conditions society should respond vigorously to the threat of climate change. Tipo: Working or Discussion Paper Palavras-chave: Abrupt climate change; Event uncertainty; Catastrophic risk; Hyperbolic discounting; Markov Perfect Equilibria; Environmental Economics and Policy; C61; C73; D63; D99; Q54. Ano: 2007 URL: http://purl.umn.edu/7181 Resource Management with Stochastic Recharge and Environmental Threats AgEcon Leizarowitz, Arie; Tsur, Yacov. Exploitation diminishes the capacity of renewable resources to with-stand environmental stress, increasing their vulnerability to extreme conditions that may trigger abrupt changes. The onset of such events depends on the coincidence of extreme environmental conditions (environmental threat) and the resource state (determining its resilience). When the former is uncertain and the latter evolves stochastically, the uncertainty regarding the event occurrence is the result of the combined effect of these two uncertain components. We analyzed optimal resource management in such a setting. Existence of an optimal stationary policy is established and long run properties are characterized. A numerical illustration based on actual data is presented. Tipo: Working or Discussion Paper Palavras-chave: Stochastic stock dynamics; Event uncertainty; Markov decision process; Optimal stationary policy; Environmental Economics and Policy. Ano: 2009 URL: http://purl.umn.edu/52784 RESOURCE EXPLOITATION, BIODIVERSITY LOSS AND ECOLOGICAL EVENTS AgEcon Tsur, Yacov; Zemel, Amos. We study the management of a natural resource that supports ecosystems as well as human needs. The reduction in the resource base introduces a threat of occurrence of catastrophic ecological events, such as the sudden collapse of the national habitat that lead to severe loss of biodiversity. The event occurrence conditions involve uncertainty of various types, and the distinction among these types affects the optimal exploitation policies. When uncertainty is due to our ignorance of some aspects of the underlying ecology, the isolated equilibrium states characterizing optimal exploitation for many renewable resource problems become equilibrium intervals. Events triggered by genuinely stochastic environmental conditions maintain the structure of... Tipo: Working or Discussion Paper Palavras-chave: Ecosystem; Resource management; Event uncertainty; Biodiversity; Extinction; Resource /Energy Economics and Policy. Ano: 2005 URL: http://purl.umn.edu/14981 RESOURCE EXPLOITATION, BIODIVERSITY AND ECOLOGICAL EVENTS AgEcon Tsur, Yacov; Zemel, Amos. We study the management of a natural resource that supports ecosystems as well as human needs. The reduction in the resource base poses a threat of occurrence of catastrophic ecological events, such as the sudden collapse of the natural habitat, that lead to severe loss of biodiversity. The event occurrence conditions involve uncertainty of various types, and the distinction among these types affects the optimal exploitation policies. When uncertainty is due to our ignorance of some aspects of the underlying ecology, the isolated equilibrium states characterizing optimal exploitation for many renewable resource problems become equilibrium intervals, giving rise to hysteresis phenomena. Events triggered by genuinely stochastic environmental conditions... Tipo: Working or Discussion Paper Palavras-chave: Ecosystem; Resource management; Event uncertainty; Biodiversity; Extinction; Resource /Energy Economics and Policy. Ano: 2004 URL: http://purl.umn.edu/14996 Registros recuperados: 5 Primeira ... 1 ... Última

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