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Environmental and Resource Economics Workshop by Elizabeth Baldwin

Dates:15 March 2016
Times:13:00 - 14:00
What is it:Seminar
Organiser:School of Social Sciences
Who is it for:University staff, Current University students, General public
Speaker:Dr Elizabeth Baldwin
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  • Dr Elizabeth Baldwin

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  • In category "Seminar"
  • In group "(SoSS) Economics - environmental"
  • In group "(SoSS) Economics"
  • By School of Social Sciences

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

  • http://elizabeth-baldwin.me.uk

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G.30/31
Arthur Lewis Building
Manchester

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Dr Prasenjit Banerjee

01613066916

prasenjit.banerjee@manchester.ac.uk

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