globalchange  > 全球变化的国际研究计划
DOI: 10.1007/s10640-018-0297-x
WOS记录号: WOS:000477586600012
论文题名:
Active Learning and Optimal Climate Policy
作者: Hwang, In Chang1; Tol, Richard S. J.2,3,4,5,6; Hofkes, Marjan W.3,4
通讯作者: Hwang, In Chang
刊名: ENVIRONMENTAL & RESOURCE ECONOMICS
ISSN: 0924-6460
EISSN: 1573-1502
出版年: 2019
卷: 73, 期:4, 页码:1237-1264
语种: 英语
英文关键词: Climate policy ; Irreversibility ; Uncertainty ; Learning ; Active learning
WOS关键词: MERIDIONAL OVERTURNING CIRCULATION ; MONETARY-POLICY ; UNCERTAINTY ; INFORMATION ; MODEL ; COST ; IRREVERSIBILITY ; SENSITIVITY ; FEEDBACKS ; INSURANCE
WOS学科分类: Economics ; Environmental Studies
WOS研究方向: Business & Economics ; Environmental Sciences & Ecology
英文摘要:

This paper develops a climate-economy model with uncertainty, irreversibility, and active learning. Whereas previous papers assume learning from one observation per period, or experiment with control variables to gain additional information, this paper considers active learning from investment in monitoring, specifically in improved observations of the global mean temperature. We find that the decision maker invests a significant amount of money in climate research, far more than the current level, in order to increase the rate of learning about climate change. This helps the decision maker make improved decisions. The level of uncertainty decreases more rapidly in the active learning model than in the passive learning model with only temperature observations. As the uncertainty about climate change is smaller, active learning reduces the optimal carbon tax. The greater the risk, the larger is the effect of learning. The method proposed here is applicable to any dynamic control problem where the quality of monitoring is a choice variable, for instance, the precision at which we observe GDP, unemployment, or the quality of education.


Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/143983
Appears in Collections:全球变化的国际研究计划

Files in This Item:

There are no files associated with this item.


作者单位: 1.Seoul Inst, Room 418,57 Nambusunhwan Ro,340 Gil, Seoul 06756, South Korea
2.Univ Sussex, Dept Econ, Brighton, E Sussex, England
3.Vrije Univ Amsterdam, Inst Environm Studies, Amsterdam, Netherlands
4.Vrije Univ Amsterdam, Dept Spatial Econ, Amsterdam, Netherlands
5.Tinbergen Inst, Amsterdam, Netherlands
6.CESifo, Munich, Germany

Recommended Citation:
Hwang, In Chang,Tol, Richard S. J.,Hofkes, Marjan W.. Active Learning and Optimal Climate Policy[J]. ENVIRONMENTAL & RESOURCE ECONOMICS,2019-01-01,73(4):1237-1264
Service
Recommend this item
Sava as my favorate item
Show this item's statistics
Export Endnote File
Google Scholar
Similar articles in Google Scholar
[Hwang, In Chang]'s Articles
[Tol, Richard S. J.]'s Articles
[Hofkes, Marjan W.]'s Articles
百度学术
Similar articles in Baidu Scholar
[Hwang, In Chang]'s Articles
[Tol, Richard S. J.]'s Articles
[Hofkes, Marjan W.]'s Articles
CSDL cross search
Similar articles in CSDL Cross Search
[Hwang, In Chang]‘s Articles
[Tol, Richard S. J.]‘s Articles
[Hofkes, Marjan W.]‘s Articles
Related Copyright Policies
Null
收藏/分享
所有评论 (0)
暂无评论
 

Items in IR are protected by copyright, with all rights reserved, unless otherwise indicated.