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Using climate change as a prototype motivating example, this paper analyzes the implications of structural uncertainty for the economics of low-probability high-impact catastrophes. The paper shows that having an uncertain multiplicative parameter, which scales or ampli…es exogenous shocks and is updated by Bayesian learning, induces a critical " tail(More)
This article examines policy activity surrounding the implementation of privacy regulations in three European countries, Denmark, Sweden and the UK, following the ratification of the 1995 European Union Directive on Data Protection. It highlights the convergence and divergence of policy embedded in the policy transfer process and stresses not only the(More)
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