Environmental and Resource Economics Workshop by Elizabeth Baldwin
| Dates: | 15 March 2016 |
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| Times: | 13:00 - 14:00 |
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| What is it: | Seminar |
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| Organiser: | School of Social Sciences |
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| Who is it for: | University staff, Current University students, General public |
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| Speaker: | Dr Elizabeth Baldwin |
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Environmental and Resource Economics Workshop by Elizabeth Baldwin
Title: Choosing in the Dark: Incomplete Preferences, and Climate Policy
Abstract:
How should we frame collective decision-making when the stakes are high and reasonable people disagree? A model of incomplete preferences (cf. Galaabaatar and Karni, 2013) may be appropriate, and I suggest characterisations for when it is so. This incompleteness arises from disagreement about the probabilities of diverse outcomes, as well as differing levels of impatience, and risk or inequality aversion.
My leading example is our level of response to climate change; numerical modelling substantiates the extraordinary extent of potential disagreement in this case. I derive the relative robustness of using price- or quantity-based policy targets, in the incomplete situation. Finally, I use this model to re-frame the `dismal theorem' of Weitzman (2009), clarifying the key insights it provides.
Speaker
Dr Elizabeth Baldwin
Role: Research Fellow
Organisation: London of School of Economics
Travel and Contact Information
Find event
G.30/31
Arthur Lewis Building
Manchester
