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Content archived on 2024-05-27

Evaluation and management of collective long-term risks

Objective

The aim of this research proposal is to provide a unified framework to evaluate and to manage collective long-term risks, with applications to environmental risks (climate change, genetically modified organisms, nuclear wastes, non-renewable resources, biodiversity, &). What should we be willing to give up to reduce these risks? What is the best timing for action? How should the risk evaluation be adapted to the absence of objective probabilities, the conflicts between and biases in individual beliefs, the heterogeneity of individual preferences towards these risks, the ability to predict future impacts, the limited capability to share risk efficiently, or the changing expectations about long-term economic growth and about the scarcity of environmental resources? To examine these questions, we will combine various approaches from modern decision theory, the theory of finance, environmental economics and behavioural economics. This research is also aimed at helping collective decision making by improving the standard tools of benefit-cost analysis for the specificities of long-term risks: discounting of far distant effects, risk premium for fat tails, ambiguity premium, aggregation rules for heterogeneous beliefs and preferences, and option values. We will translate general concepts as sustainable development , corporate social responsibility and precautionary principle into efficient guidelines for collective decision making.

Fields of science (EuroSciVoc)

CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.

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Keywords

Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)

Topic(s)

Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.

Call for proposal

Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.

ERC-2008-AdG
See other projects for this call

Funding Scheme

Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.

ERC-AG - ERC Advanced Grant

Host institution

FONDATION JEAN JACQUES LAFFONT,TOULOUSE SCIENCES ECONOMIQUES
EU contribution
€ 1 400 000,00
Address
5E ETAGE, 1 ESP DE L'UNIVERSITE
31080 Toulouse
France

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Region
Occitanie Midi-Pyrénées Haute-Garonne
Activity type
Research Organisations
Links
Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

No data

Beneficiaries (1)

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