Mathematics vs. Statistics in tackling Environmental Economics uncertainty

George Halkos and Christos Kitsos

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper the appropriate background in Mathematics and Statistics is considered in developing methods to investigate Risk Analysis problems associated with Environmental Economics uncertainty. New senses of uncertainty are introduced and a number of sources of uncertainty are discussed and presented. The causes of uncertainty are recognized helping to understand how they affect the adopted policies and how important their management is in any decision-making process. We show Mathematical Models formulate the problem and Statistical models offer possible solutions, restricting the underlying uncertainty, given the model and the error assumptions are correct. As uncertainty is always present we suggest ways on how to handle it.

Keywords: Uncertainty; Environmental Economics; Mathematics; Statistics. (search for similar items in EconPapers)
JEL-codes: C02 C60 Q00 Q50 Q58 (search for similar items in EconPapers)
Date: 2018-03
New Economics Papers: this item is included in nep-env, nep-ore and nep-upt
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:85280

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