Colloque / Séminaire

SEMINAIRE LABO - Johanna ETNER, Université Paris Nanterre

"Climate Policy: How to deal with ambiguity? »

co-écrit avec Meglena Jeleva et Natacha Raffin.

In this paper we study the impact of ambiguity and ambiguity attitudes on optimal adaptation and mitigation decisions when the future environmental quality is ambiguous and the decision maker's (DM) preferences are represented by the Max Min Expected Utility model.
We show that ambiguity aversion plays a signicant role in designing an optimal climate policy that is dierent from risk aversion. We also focus on the induced eects of changes in ambiguity, captured by the arrival of additional information. We state that a change in the informational structure may trigger more eorts of both mitigation and adaptation depending on both the DM's attitude toward ambiguity and her environmental preferences.

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