Dr. Ming Yang is an energy and environment economist in the IEA, and Dr. William Blyth is a consultant. The views expressed in this Working Paper are those of the authors and do not necessarily represent the views or policy of the International Energy Agency or of its individual member countries. As this paper is a Work in Progress, designed to elicit comments and further debate, comments are w...

Maternal and physical factors play a significant role in animal life-history variability, which means that large scale climate change has the potential to affect the size and dynamics of animal populations indirectly through maternal investment and directly through conditions that animals are exposed to. However, little is known about the effects of large-scale oceanographic events such as the ...

Climate change has profound consequences for the agriculture of south-eastern Australia and its climate-induced water shortage in the Murray-Darling Basin. Post Keynesian Economics (PKE) macro-dynamics, along with Kaleckian investment and growth theory, are used to develop an ecological-economic system dynamics model of this complex nonlinear river basin system. The MurrayDarling Basin Simulati...

The choice of an overall discount rate for climate change investments depends critically on how di¤erent components of investment payo¤s are discounted at di¤ering rates re‡ecting their underlying risk characteristics. Such underlying rates can vary enormously, from 1% for idiosyncratic diversi…able risk to 7% for systematic nondiversi…able risk. Which risk-adjusted rate is chosen can have a hu...

Based on panel data of 214 licenses to construct small hydropower plants, we examine whether uncertainty with respect to the introduction of a market for renewable energy certificates affected the timing of investments in Norway from 2001 to 2010. Using regression analysis, we find that (1) investors owning a portfolio of licenses acted in accordance with a real options investment rule, and unc...

The study of memory for event duration in pigeons has, for the most part, centered on an unusual behavioral phenomenon and an interesting theoretical explanation for it. A typical experiment on memory for event duration involves trials initiated by a sample stimulus that is either short or long in duration (e.g., 2 vs. 10 sec of houselight) and that is later followed by the simultaneous present...