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Predicting the Unpredictable – Handling Uncertainty in Energy Economics and Management

by Michael A. Mehling on Monday September 12, 2016

“We have to make Black Swan events manageable.”
— Frank Mastiaux, CEO, EnBW

Together with partners from German utility and CEEPR Associate Energie Baden-Württemberg AG (EnBW), the University of Duisburg-Essen and the Stiftung Energie & Klimaschutz, MIT CEEPR organized a conference on September 8th and 9th, 2016 to discuss analytical tools and decision making strategies for dealing with uncertainty in energy policy, economics and management. Hosted at the European School of Management and Technology in the historic center of Berlin, Germany, this event brought together leading decision makers from public policy and industry with researchers from a diverse range of disciplines to discuss the behavioral economics and psychology of decision making under uncertainty, the role of markets and risk in energy economics, new approaches in energy economic modeling, and practical management and forecasting strategies used in the private sector. Keynote presentations were delivered by Dr. Frank Mastiaux, Chief Executive Officer of EnBW, John B. Emerson, U.S. Ambassador to the Federal Republic of Germany, and Dr. Rainer Baake, State Secretary at the German Federal Ministry for Economic Affairs and Energy. CEEPR Director Christopher Knittel, Professor Robert Pindyck, Dr. Sergey Paltsev, Joshua Hodge, and Michael Mehling participated in the conference on behalf of MIT.