no code implementations • 19 Oct 2023 • Nikolay Khabarov, Alexey Smirnov, Michael Obersteiner
The "Hotelling rule" (HR) called to be "the fundamental principle of the economics of exhaustible resources" has a logical deficiency which was never paid a sufficient attention to.
no code implementations • 7 Nov 2022 • Nikolay Khabarov, Alexey Smirnov, Michael Obersteiner
Shadow prices are well understood and are widely used in economic applications.
no code implementations • 24 Jan 2020 • Nikolay Khabarov, Alexey Smirnov, Michael Obersteiner
Social cost of carbon (SCC) is estimated by integrated assessment models (IAM) and is widely used by government agencies to value climate policy impacts.