Patrick Bolton, Columbia University
Global Pricing of Carbon-Transition Risk

Patrick Bolton is the Barbara and David Zalaznick Professor of Business at Columbia University. Dr. Bolton’s areas of interest are in contract theory and contracting issues in corporate finance and industrial organization. A central focus of his work is on the allocation of control and decision rights to contracting parties when long-term contracts are incomplete. This issue is relevant in many different contracting areas including: the firm’s choice of optimal debt structure, corporate governance and the firm’s optimal ownership structure, vertical integration, and constitution design. Dr. Bolton’s work in industrial organization focuses on antitrust economics and the potential anticompetitive effects of various contracting practices.

This seminar is part of the Virtual Seminar on Climate Economics series hosted by the Federal Reserve Bank of San Francisco and is open to everyone interested in research on the economics of climate change.

Download the paper (pdf, 1.76 mb)