Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics

Download or read book Understanding Risks and Uncertainties in Energy and Climate Policy written by Haris Doukas and published by Springer. This book was released on 2018-12-10 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book analyzes and seeks to consolidate the use of robust quantitative tools and qualitative methods for the design and assessment of energy and climate policies. In particular, it examines energy and climate policy performance and associated risks, as well as public acceptance and portfolio analysis in climate policy, and presents methods for evaluating the costs and benefits of flexible policy implementation as well as new framings for business and market actors. In turn, it discusses the development of alternative policy pathways and the identification of optimal switching points, drawing on concrete examples to do so. Lastly, it discusses climate change mitigation policies’ implications for the agricultural, food, building, transportation, service and manufacturing sectors.

Download or read book Environmental Decisions in the Face of Uncertainty written by Institute of Medicine and published by National Academies Press. This book was released on 2013-05-20 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Environmental Protection Agency (EPA) is one of several federal agencies responsible for protecting Americans against significant risks to human health and the environment. As part of that mission, EPA estimates the nature, magnitude, and likelihood of risks to human health and the environment; identifies the potential regulatory actions that will mitigate those risks and protect public health1 and the environment; and uses that information to decide on appropriate regulatory action. Uncertainties, both qualitative and quantitative, in the data and analyses on which these decisions are based enter into the process at each step. As a result, the informed identification and use of the uncertainties inherent in the process is an essential feature of environmental decision making. EPA requested that the Institute of Medicine (IOM) convene a committee to provide guidance to its decision makers and their partners in states and localities on approaches to managing risk in different contexts when uncertainty is present. It also sought guidance on how information on uncertainty should be presented to help risk managers make sound decisions and to increase transparency in its communications with the public about those decisions. Given that its charge is not limited to human health risk assessment and includes broad questions about managing risks and decision making, in this report the committee examines the analysis of uncertainty in those other areas in addition to human health risks. Environmental Decisions in the Face of Uncertainty explains the statement of task and summarizes the findings of the committee.

Download or read book The Politics of Climate Change and Uncertainty in India written by Lyla Mehta and published by Routledge. This book was released on 2021-12-24 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together diverse perspectives concerning uncertainty and climate change in India. Uncertainty is a key factor shaping climate and environmental policy at international, national and local levels. Climate change and events such as cyclones, floods, droughts and changing rainfall patterns create uncertainties that planners, resource managers and local populations are regularly confronted with. In this context, uncertainty has emerged as a "wicked problem" for scientists and policymakers, resulting in highly debated and disputed decision-making. The book focuses on India, one of the most climatically vulnerable countries in the world, where there are stark socio-economic inequalities in addition to diverse geographic and climatic settings. Based on empirical research, it covers case studies from coastal Mumbai to dryland Kutch and the Sundarbans delta in West Bengal. These localities offer ecological contrasts, rural–urban diversity, varied exposure to different climate events, and diverse state and official responses. The book unpacks the diverse discourses, practices and politics of uncertainty and demonstrates profound differences through which the "above", "middle" and "below" understand and experience climate change and uncertainty. It also makes a case for bringing together diverse knowledges and approaches to understand and embrace climate-related uncertainties in order to facilitate transformative change. Appealing to a broad professional and student audience, the book draws on wide-ranging theoretical and conceptual approaches from climate science, historical analysis, science, technology and society studies, development studies and environmental studies. By looking at the intersection between local and diverse understandings of climate change and uncertainty with politics, culture, history and ecology, the book argues for plural and socially just ways to tackle climate change in India and beyond. The Open Access version of this book, available at http://www.taylorfrancis.com/books/e/9781003257585, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

Download or read book Uncertainty and the Environment written by Richard Young and published by Edward Elgar Publishing. This book was released on 2001 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: After critiquing the use of traditional models such as expected utility in environmental decision-making, Young, a consultant with Arthur Anderson in London, argues for evaluating decision-making models in relation to the rationality of the way decisions are made. He outlines an alternative model of making decisions under uncertainty derived from the work of George Shackle, and applies it to environmental decision making by the government of Belize, the Inter- American Development Bank, the World Bank, and other institutions. Annotation copyrighted by Book News, Inc., Portland, OR

Download or read book Wicked Environmental Problems written by Peter J. Balint and published by Island Press. This book was released on 2012-06-22 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Wicked" problems are large-scale, long-term policy dilemmas in which multiple and compounding risks and uncertainties combine with sharply divergent public values to generate contentious political stalemates; wicked problems in the environmental arena typically emerge from entrenched conflicts over natural resource management and over the prioritization of economic and conservation goals more generally. This new book examines past experience and future directions in the management of wicked environmental problems and describes new strategies for mitigating the conflicts inherent in these seemingly intractable situations. The book: reviews the history of the concept of wicked problems examines the principles and processes that managers have applied explores the practical limitations of various approaches Most important, the book reviews current thinking on the way forward, focusing on the implementation of "learning networks," in which public managers, technical experts, and public stakeholders collaborate in decision-making processes that are analytic, iterative, and deliberative. Case studies of forest management in the Sierra Nevada, restoration of the Florida Everglades, carbon trading in the European Union, and management of the Ngorongoro Conservation Area in Tanzania are used to explain concepts and demonstrate practical applications. Wicked Environmental Problems offers new approaches for managing environmental conflicts and shows how managers could apply these approaches within common, real-world statutory decision-making frameworks. It is essential reading for anyone concerned with managing environmental problems.

Download or read book Decision Making under Deep Uncertainty written by Vincent A. W. J. Marchau and published by Springer. This book was released on 2019-04-04 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book focuses on both the theory and practice associated with the tools and approaches for decisionmaking in the face of deep uncertainty. It explores approaches and tools supporting the design of strategic plans under deep uncertainty, and their testing in the real world, including barriers and enablers for their use in practice. The book broadens traditional approaches and tools to include the analysis of actors and networks related to the problem at hand. It also shows how lessons learned in the application process can be used to improve the approaches and tools used in the design process. The book offers guidance in identifying and applying appropriate approaches and tools to design plans, as well as advice on implementing these plans in the real world. For decisionmakers and practitioners, the book includes realistic examples and practical guidelines that should help them understand what decisionmaking under deep uncertainty is and how it may be of assistance to them. Decision Making under Deep Uncertainty: From Theory to Practice is divided into four parts. Part I presents five approaches for designing strategic plans under deep uncertainty: Robust Decision Making, Dynamic Adaptive Planning, Dynamic Adaptive Policy Pathways, Info-Gap Decision Theory, and Engineering Options Analysis. Each approach is worked out in terms of its theoretical foundations, methodological steps to follow when using the approach, latest methodological insights, and challenges for improvement. In Part II, applications of each of these approaches are presented. Based on recent case studies, the practical implications of applying each approach are discussed in depth. Part III focuses on using the approaches and tools in real-world contexts, based on insights from real-world cases. Part IV contains conclusions and a synthesis of the lessons that can be drawn for designing, applying, and implementing strategic plans under deep uncertainty, as well as recommendations for future work. The publication of this book has been funded by the Radboud University, the RAND Corporation, Delft University of Technology, and Deltares.

Download or read book Philosophy and the Precautionary Principle written by Daniel Steel and published by Cambridge University Press. This book was released on 2015 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents and defends an interpretation of the precautionary principle from the perspective of philosophy of science.

Download or read book Climate Policy Uncertainty and Investment Risk written by William Blyth and published by OECD Publishing. This book was released on 2007 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines how uncertainty in climate change policy may affect investment behaviour in the power sector and how the costs of transition to a low-carbon economy may be addressed. For power companies, where capital stock is intensive and long-lived, those risks rank among the biggest and can create an incentive to delay investment. The analysis show that the risk premiums of climate change uncertainty can add 40 per cent of construction costs of the plant for power investors, and 10 per cent of price surcharges for the electricity end-users. It also looks at the sensitivity of different power sector investment decisions to different risks and considers the implications for policy development and design.

Download or read book Uncertainty and the Philosophy of Climate Change written by Martin Bunzl and published by Routledge. This book was released on 2014-09-25 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: When it comes to climate change, the greatest difficulty we face is that we do not know the likely degree of change or its cost, which means that environmental policy decisions have to be made under uncertainty. This book offers an accessible philosophical treatment of the broad range of ethical and policy challenges posed by climate change uncertainty. Drawing on both the philosophy of science and ethics, Martin Bunzl shows how tackling climate change revolves around weighing up our interests now against those of future generations, which requires that we examine our assumptions about the value of present costs versus future benefits. In an engaging, conversational style, Bunzl looks at questions such as our responsibility towards non-human life, the interests of the developing and developed worlds, and how the circumstances of poverty shape the perception of risk, ultimate developing and defending a view of humanity and its place in the world that makes sense of our duty to Nature without treating it as a rights bearer. This book will be of interest to students and scholars of environmental studies, philosophy, politics and sociology as well as policy makers.

Download or read book Uncertainty and Environmental Policy written by and published by . This book was released on 2000 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Discerning Experts written by Michael Oppenheimer and published by University of Chicago Press. This book was released on 2019-03-07 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discerning Experts assesses the assessments that many governments rely on to help guide environmental policy and action. Through their close look at environmental assessments involving acid rain, ozone depletion, and sea level rise, the authors explore how experts deliberate and decide on the scientific facts about problems like climate change. They also seek to understand how the scientists involved make the judgments they do, how the organization and management of assessment activities affects those judgments, and how expertise is identified and constructed. Discerning Experts uncovers factors that can generate systematic bias and error, and recommends how the process can be improved. As the first study of the internal workings of large environmental assessments, this book reveals their strengths and weaknesses, and explains what assessments can—and cannot—be expected to contribute to public policy and the common good.

Download or read book Environmental Law Policy and Economics written by Nicholas Askounes Ashford and published by MIT Press. This book was released on 2008 with total page 1125 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past twenty-five years have seen a significant evolution in environmental policy, with new environmental legislation and substantive amendments to earlier laws, significant advances in environmental science, and changes in the treatment of science (and scientific uncertainty) by the courts. This book offers a detailed discussion of the important issues in environmental law, policy, and economics, tracing their development over the past few decades through an examination of environmental law cases and commentaries by leading scholars. The authors focus on pollution, addressing both pollution control and prevention, but also emphasize the evaluation, design, and use of the law to stimulate technical change and industrial transformation, arguing that there is a need to address broader issues of sustainable development. Environmental Law, Policy, and Economics,which grew out of courses taught by the authors at MIT, treats the traditional topics covered in most classes in environmental law and policy, including common law and administrative law concepts and the primary federal legislation. But it goes beyond these to address topics not often found in a single volume: the information-based obligations of industry, enforcement of environmental law, market-based and voluntary alternatives to traditional regulation, risk assessment, environmental economics, and technological innovation and diffusion. Countering arguments found in other texts that government should play a reduced role in environmental protection, this book argues that clear, stringent legal requirements--coupled with flexible means for meeting them--and meaningful stakeholder participation are necessary for bringing about environmental improvements and technologicial transformations.

Download or read book Environmental Justice and Resiliency in an Age of Uncertainty written by Celeste Murphy-Greene and published by Routledge. This book was released on 2022-06-15 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the issue of environmental justice across 11short chapters, with the aim of creating a resilient society. Starting with a history of the environmental justice movement, the book then moves on to focus on various current environmental issues, analyzing how these issues impact low-income and minority communities. Topics covered include smart cities and environmental justice, climate change and health equity, the Flint Water Crisis, coastal resilience, emergency management, energy justice, procurement and contract management, public works projects, and the impact of COVID-19. Each chapter provides a unique perspective on the issues covered, offering practical strategies to create a more resilient society that can be applied by practitioners in the field. Environmental Justice and Resiliency in an Age of Uncertainty will be of interest to upper level undergraduate and graduate students studying race relations, environmental politics and policy, sustainability, and social justice. It will also appeal to practitioners working at all levels of government, and anyone with an interest in environmental issues, racial justice, and the construction of resilient communities.

Download or read book Ecology Uncertainty and Policy written by John Handmer and published by Routledge. This book was released on 2017-09-29 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: A broad and comprehensive exploration of the role of the ecological sciences in sustainability for undergraduates.The urgent quest for more sustainable patterns of development has placed new and difficult demands on both scientists and policy makers as they seek to establish more informed and effective policy processes and management regimes in the the face of pervasive uncertainty. Written by an international group of authors from a range of disciplines - ecology, geography, law, policy analysis and others - the chapters explore issues of scientific legitimacy, public participation, non-governmental organisations, inter-sectoral communication and pragmatic public policy across a wide range of ecosystem management contexts.

Download or read book Managing Uncertainties in Networks written by Johannes Franciscus Maria Koppenjan and published by Psychology Press. This book was released on 2004 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite sophisticated technology and knowledge, the strategic networks and games required to solve uncertainties becomes more complex and more important than ever before.

Download or read book The Politics of Uncertainty written by Ian Scoones and published by Routledge. This book was released on 2020-07-14 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why is uncertainty so important to politics today? To explore the underlying reasons, issues and challenges, this book’s chapters address finance and banking, insurance, technology regulation and critical infrastructures, as well as climate change, infectious disease responses, natural disasters, migration, crime and security and spirituality and religion. The book argues that uncertainties must be understood as complex constructions of knowledge, materiality, experience, embodiment and practice. Examining in particular how uncertainties are experienced in contexts of marginalisation and precarity, this book shows how sustainability and development are not just technical issues, but depend deeply on political values and choices. What burgeoning uncertainties require lies less in escalating efforts at control, but more in a new – more collective, mutualistic and convivial – politics of responsibility and care. If hopes of much-needed progressive transformation are to be realised, then currently blinkered understandings of uncertainty need to be met with renewed democratic struggle. Written in an accessible style and illustrated by multiple case studies from across the world, this book will appeal to a wide cross-disciplinary audience in fields ranging from economics to law to science studies to sociology to anthropology and geography, as well as professionals working in risk management, disaster risk reduction, emergencies and wider public policy fields.