Coping with Multiple Catastrophic Threats

Yacov Tsur, Amos Zemel

Research output: Contribution to journalArticlepeer-review

7 Scopus citations

Abstract

We study intertemporal policies for dealing with multiple catastrophic threats with endogenous hazards, allowing, inter alia, for gradual mitigation efforts that accumulate to reduce occurrence risks. The long-run properties of the optimal policies are characterized in terms of the key parameters (damage, hazard sensitivity and natural degradation rate) associated with each type of catastrophic threat. Effects of background threats on the optimal response to a potential catastrophe are illustrated numerically.

Original languageEnglish
Pages (from-to)175-196
Number of pages22
JournalEnvironmental and Resource Economics
Volume68
Issue number1
DOIs
StatePublished - 1 Sep 2017

Keywords

  • Endogenous hazards
  • Intertemporal policy
  • Long-run properties
  • Multiple catastrophes

ASJC Scopus subject areas

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

Fingerprint

Dive into the research topics of 'Coping with Multiple Catastrophic Threats'. Together they form a unique fingerprint.

Cite this