scholarly journals A replication of Pindyck’s willingness to pay: on the efforts required to obtain results

2021 ◽  
Vol 1 (5) ◽  
Author(s):  
Luca Gerotto ◽  
Paolo Pellizzari
Keyword(s):  
Climate Change ◽  
Temperature Increase ◽  
Climate Change Policy ◽  
Climate Data ◽  
Great Caution ◽  
Change Policy ◽  
Economic Interpretation ◽  
Recent Climate ◽  
Uncertain Outcomes ◽  
Parameter Values

AbstractWe replicate and use more recent data to re-estimate the paper “Uncertain outcomes and climate change policy”, Pindyck, J. Environ. Econ. Manag., 2012. In several cases, verification analysis confirms the results and the associated economic interpretation. However, those results cannot be replicated in one out of five cases. The replication is, therefore, only partially successful: the numerical results for some sets of parameter values turn out to be overly sensitive to a variety of technical computational settings. This suggests that great caution is needed with regard to estimates and policy conclusions based on this model. A re-estimation of the model using more recent climate data, which suggests that temperature increase is now higher on average but less widely dispersed, does not lead to significant economic differences in the results.

Uncertain Outcomes and Climate Change Policy Using an Expo-Power Utility Function

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Jules Sadefo Kamdem ◽  
David Akame
Keyword(s):  
Climate Change ◽  
Utility Function ◽  
Environmental Economics ◽  
Climate Change Policy ◽  
Utility Functions ◽  
Relative Risk Aversion ◽  
Power Utility ◽  
Economic Agents ◽  
Change Policy ◽  
Uncertain Outcomes

AbstractThis paper extends the work of Pindyck, R. S. 2012. “Uncertain Outcomes and Climate Change Policy.” Journal of Environmental Economics and Management 63 (3): 289–303. by taking into consideration a large class of different utility functions of economic agents. As in Pindyck, R. S. 2012. “Uncertain Outcomes and Climate Change Policy.” Journal of Environmental Economics and Management 63 (3): 289–303, instead of considering a social utility function that is characterized by constant relative risk aversion (C.R.R.A), we use the expo-power utility function of Saha, A. 1993. “Expo-power Utility: A ‘Flexible’ Form for Absolute and Relative Risk Aversion.” American Journal of Agricultural Economics 75 (4): 905–13. In fact, depending on the choice of the expo-power utility function parameters, we cover a diverse range of utility functions. Apart from covering the other utility functions that a C.R.R.A omits, the Expo-power utility function permits us to discern if under the other utility-regimes of economic agents, the willingness to pay remains more affected by uncertain outcomes than certain outcomes when we vary the expectation and standard deviation of the temperature’s probability distribution. Our paper has maintained the small-tailed gamma distributions of temperature and economic impact of Pindyck, R. S. 2012. “Uncertain Outcomes and Climate Change Policy.” Journal of Environmental Economics and Management 63 (3): 289–303. not only because they hinder infinite future welfare losses (for an exponential utility function), but because it is easy to change some moments of the distribution (jointly or holding the others fixed) while studying how uncertainty influences the willingness to pay as explained in Pindyck, R. S. 2012. “Uncertain Outcomes and Climate Change Policy.” Journal of Environmental Economics and Management 63 (3): 289–303.

scholarly journals Resiliens i et globalt klimaperspektiv

2018 ◽  
pp. 65-80
Author(s):  
Mikkel Fugl Eskjær
Keyword(s):  
Climate Change ◽  
Climate Change Adaptation ◽  
Global Climate ◽  
Climate Change Policy ◽  
Context Sensitive ◽  
Change Policy ◽  
Recent Climate ◽  
And Function ◽  
Role And Function ◽  
Climate Change Resilience

Resilience has become a key concept in the global climate change discourse, not least in relation to climate change adaptation in the Global South. Taking Bangladesh as an example, this paper explores the role and function of resilience in one of the most climate vulnerable nations. The aim is to examine and critically discuss the popularity of resilience in recent climate change policy. The paper looks into the following aspects of climate change resilience: (i) the relation between resilience and the concepts of mitigation/adaptation; (ii) resilience as a re-description of existing socio-ecological means of adaptation; (iii) resilience as an example of the integration of climate change adaptation and development; (iv) resilience as a strategic resource in obtaining international climate change funding. The four aspects illustrate how the discourse of resilience is surrounded by rather diverse mechanisms and dynamics, which may account for the concepts popularity. It further indicates that while the concept promises a pro-poor and context sensitive approach to climate change resilience, it also risks effacing the principal differences between development and climate change adaptation.

Copenhagen Agreement - A New Paradigm of Climate Problem Solving

2010 ◽  
pp. 115-132 ◽  
Author(s):  
S. Agibalov ◽  
A. Kokorin
Keyword(s):  
Climate Change ◽  
Energy Savings ◽  
Global Climate ◽  
Climate Change Policy ◽  
New Order ◽  
Paradigm Shifts ◽  
New Paradigm ◽  
Energy Efficiency Policy ◽  
Policy Paradigm ◽  
Change Policy

Copenhagen summit results could be called a failure. This is the failure of UN climate change policy management, but definitely the first step to a new order as well. The article reviews main characteristics of climate policy paradigm shifts. Russian interests in climate change policy and main threats are analyzed. Successful development and implementation of energy savings and energy efficiency policy are necessary and would sufficiently help solving the global climate change problem.

How Modelling Tools Can Support Climate Change Policy: The Case of Costa Rica in the Energy Sector

2020 ◽  
Author(s):  
Guido Godínez-Zamora ◽  
Luis Victor-Gallardo ◽  
Jam Angulo-Paniagua ◽  
Eunice Ramos ◽  
Mark Howells ◽  
...  
Keyword(s):  
Climate Change ◽  
Costa Rica ◽  
Climate Change Policy ◽  
Energy Sector ◽  
Change Policy

scholarly journals The Effects of US State-Level Energy and Environmental Policies on Clean Tech Innovation and Employment

2016 ◽  
Vol 6 (2) ◽  
pp. 1 ◽  
Author(s):  
Ross Gittell ◽  
Josh Stillwagon
Keyword(s):  
Climate Change ◽  
Climate Change Policy ◽  
State Level ◽  
Environmental Policies ◽  
Environmental Benefits ◽  
Level Energy ◽  
Negative Effects ◽  
Employment Benefits ◽  
Technology Industry ◽  
Change Policy

<p>This paper explores the influence of US state-level policies meant to address climate change on clean technology industry development. The largest influence of climate change policies is identified as being on energy research employment. Only some policies seem to contribute positively to clean tech employment while other policies appear to discourage employment growth. The magnitudes of the short term effects, even when statistically significant, are modest. Negative impacts on employment are identified for several mandate-oriented, so called command and control, policies including vehicle greenhouse gas standards, energy efficiency resource standards, and renewable portfolio standards with the former two having increasing negative effects over time. The findings suggest that climate change policy advocates should be careful to not assume that there will be positive clean tech employment benefits from state-level energy and environmental policies. Instead, the benefits from these policies may derive primarily from other considerations beyond the scope of this paper, including health and environmental benefits and reduction of dependence on foreign energy sources.</p>

Sign in / Sign up

Export Citation Format

Share Document