期刊名称：Dundee Discussion Papers in Economics / Department of Economic Studies, University of Dundee
印刷版ISSN：1473-236X
出版年度：2011
卷号：1
页码：1-26
出版社：Dundee University
摘要：This paper examines the impact of Knightian uncertainty upon optimal climate policy
through the prism of a continuous-time real option modelling framework. We analytically
determine optimal intertemporal climate policies under ambiguous assessments of climate
damages. Additionally, numerical simulations are provided to illustrate the properties
of the model. The results indicate that increasing Knightian uncertainty accelerates climate
policy, i.e. policy makers become more reluctant to postpone the timing of climate
policies into the future.
关键词：Climate change, Knightian uncertainty, -ambiguity, real options
