Publications
Market and policy driven adaptation: an alternative perspective
The policy debate on climate change distinguishes two generic response options. The first (and more prominent) option is mitigation. Mitigation addresses the causes of climate change by reducing the … read more »
Comment: ‘Knock knock: where is the evidence for dangerous human-caused global warming?’ by Robert M. Carter
Carter (2008) notes that for climate change “sound science [sic] understanding is an essential prerequisite to any meaningful economic analysis”. Unfortunately, his paper contains serious and … read more »
Enforcement-proof contracts with moral hazard in precaution: ensuring ‘permanence’ in carbon sequestration
Opportunistic behaviour due to incomplete contract enforcement is a risk in many economic transactions, such as forest carbon sequestration contracts. In this paper, an enforcement-proof incentive … read more »
Cap-and-trade properties under different hybrid scheme designs
We examine the key design mechanisms of existing and proposed cap-and-trade markets. First, it is shown that the hybrid systems under investigation (price floor using a … read more »
Environmental economics and modelling marketable permits
We review fundamental concepts in environmental economics and explore theoretical results regarding the choice of the key policy instruments for the control of externalities: taxes, subsidies … read more »
Is gold a safe haven? International evidence
In this essay I discuss the role of cooperation in the process of innovation. I argue for a reorientation of the way we conceptualize economic behaviour, taking account of … read more »
Environmental prices, uncertainty and learning
There is an increasing demand for putting a shadow price on the environment to guide public policy and incentivize private behaviour. In practice, setting that price can be extremely … read more »
The equity-efficiency trade-off environmental policy: evidence from stated preferences
The design of environmental policy raises several equity issues, in particular the distribution of benefits and costs. At the same time, it has often been argued that there is … read more »
Designing carbon markets. Part I: carbon markets in time
This paper analyses the design of carbon markets in time (i.e., intertemporally). It is part of a twin set of papers that ask, starting from first principles, what an … read more »
