Global Environmental Risks

Graciela Chichilnisky and Geoffrey Heal

Journal of Economic Perspectives, 1993, vol. 7, issue 4, 65-86

Abstract: We consider the economics of global environmental risks. In this area, we are dealing with risks that are poorly understood, endogenous, collective, and irreversible. In policy terms, the nature and extent of uncertainty about global climate change implies that society's position will be dominated by two questions: What cost is worth incurring to reduce the poorly-understood risk of climate change, or to improve our understanding of the risk? How may existing social institutions, such as insurance contracts and securities markets, be used to provide the most efficient allocation of the risks associated with global climate change?

JEL-codes: Q21 (search for similar items in EconPapers)
Date: 1993
Note: DOI: 10.1257/jep.7.4.65
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (84)

Downloads: (external link)
http://www.aeaweb.org/articles.php?doi=10.1257/jep.7.4.65 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aea:jecper:v:7:y:1993:i:4:p:65-86

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/journals/subscriptions

Access Statistics for this article

Journal of Economic Perspectives is currently edited by Enrico Moretti

More articles in Journal of Economic Perspectives from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().