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Liski, Matti and Salanié, François
(2020)
Catastrophes, delays, and learning.
TSE Working Paper, n. 20-1148, Toulouse
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Abstract
How to plan for catastrophes that may be under way? In a simple but general model of experimentation, a decision-maker chooses a flow variable contributing to a stock that may trigger a catastrophe at each untried level. Once triggered, the catastrophe itself occurs only after a stochastic delay. Consequently, the rhythm of past experimentations determines the arrival of information. This has strong implications for policies in situations where the planner inherits a history of experiments, like climate change and pandemic crisis. The structure encompasses canonical approaches in the literature.
| Item Type: | Monograph (Working Paper) |
|---|---|
| Language: | English |
| Date: | September 2020 |
| Place of Publication: | Toulouse |
| Uncontrolled Keywords: | catastrophes, experimentation, delays |
| JEL Classification: | C61 - Optimization Techniques; Programming Models; Dynamic Analysis D81 - Criteria for Decision-Making under Risk and Uncertainty Q54 - Climate; Natural Disasters |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Institution: | Université Toulouse 1 Capitole |
| Site: | UT1 |
| Date Deposited: | 01 Oct 2020 08:23 |
| Last Modified: | 14 Sep 2022 08:09 |
| OAI Identifier: | oai:tse-fr.eu:124745 |
| URI: | https://publications.ut-capitole.fr/id/eprint/41828 |
