Publications

For want of a chair: teaching price formation using a cap and trade game

Working paper by Stefano Carattini, Eli Fenichel, Alexander Gordan, Patrick Gourley on 22 Mar 2019

This paper describes the benefits of a game created as an active learning method to teach current and future decision-makers about the ‘cap and trade’ system, one of the most innovative policy options developed by environmental economists. read more »


Uncertainty and ambiguity in environmental economics: conceptual issues

Working paper by Geoffrey Heal, Antony Millner on 26 Sep 2017

When it comes to climate change and biodiversity loss, standard decision-making tools may no longer capture important aspects of our uncertainty preferences. Richer models of decision-making, which allow us to express lack of confidence in our information, may be more desirable. read more »