Mathematics and the Environment: Energy Risk, Environmental Uncertainty and Public Decision Making (07w5502)

Objectives

In a time of of growing environmental concerns and the chance to enhance the development of effective mathematical methods and techniques to model climate risks and public decision making in the presence of environmental uncertainty is truly compelling. This workshop brings together economics, mathematics and social scientists to discuss recent progress in the modeling and managing climate and weather related risk factors.

We intend to attract about 20 graduate students and postdoctoral fellows and about 20 senior scientists. Possible topics include

risk sharing and risk transfer;

equilibrium in incomplete markets;

numerical methods for backward stochastic differential equations;

public decision making in the presence of environmental uncertainties;

economic impacts of global climate change;

stochastic climate models;

markets for greenhouse gas emission credits.

This workshop is accompanied by a summer school. Its focus is on a set of five courses at the interface of mathematical finance and environmental economics. For further information on the summer school, please visit

http://www.pims.math.ca/birs/birspages.php?task=displayevent&event_id=07ss081

Both events are part of a recent PIMS initiative on `Mathematics and Environment' and its international cooperative research group `The Economics and Finance of Climate Risk and Natural Resources`. They are co-organized with MATHEON, the DFG research center Mathematics for Key Technologies and funded in part by the Alexander-von-Humboldt foundation under its TransCoop project ``Climate Risk, Securitization, and the Microstructure of Insurance Markets".