Pycroft et al. (Environ Resour Econ 1–29, 2015) used incorrect and outdated data to study the economic impact of sea level rise. Theymisinterpret some of their input data, and fail to exploit the strengths of their computable general equilibrium model and previously developed methods to study impacts and adaptation.

The computability of Nash equilibrium points of finite games is examined. When payoffs are computable there always exists an equilibrium in which all players use computable strategies. However, there is a computable sequence of games for which the equilibrium points do not constitute a computable sequence. For this reason, there can be no algorithm that, given arbitrary payoffs, computes a Nash...

In both developing and developed countries tourism is often regarded as an economic activity of immense significance creating thousands of jobs. However, calculations dealing with the economic nature of tourism are often derived from input-output models, which largely overstate its effects on employment by assuming linear responses and highly elastic supplies of goods, services and labor. The p...

A well-known challenge in computable general equilibrium (CGE) models is to maintain correspondence between the forecasted economic and physical quantities over time. Maintaining such a correspondence is necessary to understand how economic forecasts reflect, and are constrained by, relationships within the underlying physical system. This work develops a method for projecting global demand for...

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We develop a forward-looking version of the MIT Emissions Prediction and Policy Analysis (EPPA) model, and apply it to examine the economic implications of proposals in the U.S. Congress to limit greenhouse gas (GHG) emissions. We find that the abatement path and CO2-equivalent (CO2-e) price in the forward-looking model are quite similar to that of the recursive model, implying that the simulat...

We study the problem of measuring the uncertainty of computable general equilibrium (CGE) (or RBC)-type model simulations associated with parameter uncertainty. We describe two approaches for building conŽ dence sets on model endogenous variables. The Ž rst uses a standard Wald-type statistic. The second approach assumes that a conŽ dence set (sampling or Baycsian) is available for the free par...