Why uncertainty matters: discounting under intertemporal risk aversion and ambiguity

DOI10.1007/s00199-014-0800-8zbMath1307.91065OpenAlexW1974412430MaRDI QIDQ403714

Christian P. Traeger

Publication date: 29 August 2014

Published in: Economic Theory (Search for Journal in Brave)

Full work available at URL: http://www.escholarship.org/uc/item/2w614303

zbMATH Keywords

uncertaintyambiguitydiscountingrisk aversioncost-benefit analysisclimate changeintertemporal substitutability

Mathematics Subject Classification ID

Decision theory (91B06) Utility theory (91B16) Economic growth models (91B62)

Related Items

A theory of disasters and long-run growth ⋮ Why uncertainty matters: discounting under intertemporal risk aversion and ambiguity ⋮ Multidimensional risk aversion: the cardinal sin ⋮ Ambiguous implementation: the partition model ⋮ Climate policy: how to deal with ambiguity?

Cites Work

• Unnamed Item
• Unnamed Item
• Why uncertainty matters: discounting under intertemporal risk aversion and ambiguity
• Taxes versus quantities for a stock pollutant with endogenous abatement costs and asymmetric information
• Intergenerational equity, efficiency, and constructibility
• Sustainable exploitation of a natural resource: a satisfying use of Chichilnisky's criterion
• Economic theory and the global environment
• Global warming and economic externalities
• Sustainable recursive social welfare functions
• Recursive smooth ambiguity preferences
• Discounting climate change
• Maxmin expected utility with non-unique prior
• Why the far-distant future should be discounted at its lowest possible rate
• Regulating stock externalities under uncertainty.
• Uncertain climate thresholds and optimal economic growth
• Differentiating ambiguity and ambiguity attitude
• Dynamic variational preferences
• Regulation with anticipated learning about environmental damages
• Price and quantity regulation in general equilibrium
• Ambiguity, Learning, and Asset Returns
• Risk, Ambiguity, and the Savage Axioms
• Temporal Resolution of Uncertainty and Dynamic Choice Theory
• A New Representation of Preferences over "Certain x Uncertain" Consumption Pairs: The "Ordinal Certainty Equivalent" Hypothesis
• Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework
• Ambiguity Aversion, Robustness, and the Variational Representation of Preferences
• A Smooth Model of Decision Making under Ambiguity
• Malthus and climate change: Betting on a stable population

This page was built for publication: Why uncertainty matters: discounting under intertemporal risk aversion and ambiguity