We provide a discipline for belief formation through a model of subjective beliefs, in which agents hold strategic beliefs. More precisely, we consider beliefs as a strategic variable that agents can choose (consciously or not) in order to maximize their utility at the equilibrium. These...

In this paper, we show that behavioral features can be obtained at a group level when the individuals of the group are heterogeneous enough. Starting from a standard model of Pareto optimal allocations, with expected utility maximizers but allowing for heterogeneity among individual beliefs, we...

In this paper we analyse the risk attitude of a group of heterogenous agents and we develop a theory of comparative collective risk tolerance. In particular, we characterize how shifts in the distribution of individual levels of risk tolerance affect the representative agent's degree of risk...

This paper presents an equilibrium model in a pure exchange economy when investors have three possible sources of heterogeneity. Investors may dier in their beliefs, in their level of risk aversion and in their time preference rate. We study the impact of investors heterogeneity on the...

This paper examines the major barriers to the deployment of geothermal, small hydro and advanced coal power generation technologies in Vietnam. It ranks their severity by applying the analytical hierarchy process to data from a survey of 37 domestic experts and stakeholders. Key barriers to a...

We describe a method to represent the results of climate simulation models with analogues. An analogue to a city A is a city B whose climate today represents A's simulated future climate. Climates were characterized and compared non-parametrically, using the 30-years distribution of three...

This paper examines the major barriers to the deployment of geothermal, small hydro and advanced coal power generation technologies in Vietnam. It ranks their severity by applying the analytical hierarchy process to data from a survey of 37 domestic experts and stakeholders. Key barriers to a...

This paper discusses aspects of risk and uncertainty relevant in an interdisciplinary assessment of climate change policy. It opposes not only the objective approach versus the subjective approach, but also situations when precise probabilities are well founded versus situations of broader forms...

In this article, we assess the future prospects of the Clean Development Mechanism (CDM) from the perspective of a developing country, drawing on Vietnam as a case study. First, we review the performance of the CDM and describe the evolution of carbon markets on the path towards a post-2012...

This paper introduces a few words used by economists studying uncertainty, climate policy and integrated assessment models. Section one uses two pedagogical examples to define risk, uncertainty, surprise and contingent strategy. Regarding uncertainty that is not risk, subjective probabilities...