Seminars & webinars
3 March, 2022

Online Seminar | Catastrophes, delays and learning


Where: online
Location:

GoToWebinar

Event's Timetable:

March 3rd, 2022 - 4 PM 

Information:

To participate please registere here 

Speaker:

Prof. Matti Liski 
Aalto University School of Business

introduced by

Prof. Sergio Vergalli
Fondazione Eni Enrico Mattei, University of Brescia, IAERE

Abstract

How to plan for catastrophes that may be under way? In a simple but general model of experimentation, a decision-maker chooses a flow variable contributing to a stock that may trigger a catastrophe at each untried level. Once triggered, the catastrophe itself occurs only after a stochastic delay. Consequently, the rhythm of past experimentations determines the arrival of information. This has strong implications for policies in situations where the planner inherits a history of experiments, like climate change and pandemic crisis. The structure encompasses canonical approaches in the literature.

Online Seminar | Catastrophes, delays and learning

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