Prospects of Tools from Differential Games in the Study Of Macroeconomics of Climate Change

J.C. Engwerda

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Abstract

Abstract: In this note we sketch a dynamic framework within which the discussion on the macro economic effects of climate change take place. The problem setting is characterized by scientific uncertainties about the development of climate, potential large economic losses and human beings having their specific features. Some considerations about climate change, macroeconomics and their relationship are given. A characteristic feature of the problem setting is that there are multiple decision makers interacting in a dynamic world with large uncertainties. Problems of this type have been studied extensively by (dynamic) game theory. A rough literature review is provided and some items open for future research are indicated.
Original languageEnglish
Place of PublicationTilburg
PublisherEconometrics
Number of pages27
Volume2012-045
Publication statusPublished - 2012

Publication series

NameCentER Discussion Paper
Volume2012-045

Keywords

  • Climate change
  • environmental change
  • macro-economic effects
  • dynamic games

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