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Discounting for Climate Change
Anthoff, David; Tol, Richard S. J.; Yohe, Gary W. - 2009
that the social cost of carbon, corrected for uncertainty and inequity, is 61 US dollar per metric tonne of carbon. …
Persistent link: https://www.econbiz.de/10010298596
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Discounting for climate change
Anthoff, David; Tol, Richard S. J.; Yohe, Gary W. - 2009
that the social cost of carbon, corrected for uncertainty and inequity, is 61 US dollar per metric tonne of carbon. …
Persistent link: https://www.econbiz.de/10010277645
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Why uncertainty matters: Discounting under intertemporal risk aversion and ambiguity
Traeger, Christian - 2012
Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a … comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the … and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …
Persistent link: https://www.econbiz.de/10010280817
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The treatment of risk and uncertainty in the US social cost of carbon for regulatory impact analysis
Dietz, Simon - 2011
This note considers the treatment of risk and uncertainty in the recently established social cost of carbon (SCC) for … discounting, it mis-estimated climate risk, possibly hugely. Given the uncertainty about estimating the SCC, the note concludes by …
Persistent link: https://www.econbiz.de/10010305979
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The treatment of risk and uncertainty in the US social cost of carbon for regulatory impact analysis
Dietz, Simon - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-18, pp. 1-12
This note considers the treatment of risk and uncertainty in the recently established social cost of carbon (SCC) for … discounting, it mis-estimated climate risk, possibly hugely. Given the uncertainty about estimating the SCC, the note concludes by …
Persistent link: https://www.econbiz.de/10010309048
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The Social Cost of Carbon: Trends, Outliers and Catastrophes
Tol, Richard S. J. - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-25, pp. 1-22
211 estimates of the social cost of carbon are included in a meta-analysis. The results confirm that a lower discount rate implies a higher estimate; and that higher estimates are found in the gray literature. It is also found that there is a downward trend in the economic impact estimates of the...
Persistent link: https://www.econbiz.de/10010295322
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Regional and sectoral estimates of the social cost of carbon: An application of FUND
Anthoff, David; Rose, Steven; Tol, Richard S. J.; … - 2011
The social cost of carbon is an estimate of the benefit of reducing CO2 emissions by one ton today. As such it is a key input into cost-benefit analysis of climate policy and regulation. We provide a set of new estimates of the social cost of carbon from the integrated assessment model FUND 3.5...
Persistent link: https://www.econbiz.de/10010305852
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Climate risks and carbon prices: Revising the social cost of carbon
Ackerman, Frank; Stanton, Elizabeth A. - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-10, pp. 1-25
effects of uncertainty about climate sensitivity, the shape of the damage function, and the discount rate. We show that the …
Persistent link: https://www.econbiz.de/10010308735
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Additive damages, fat-tailed climate dynamics, and uncertain discounting
Weitzman, Martin L. - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-39, pp. 1-29
This paper in applied theory argues that there is a loose chain of reasoning connecting the following three basic links in the economics of climate change: 1) additive disutility damages may be appropriate for analyzing some impacts of global warming; 2) an uncertain feedback-forcing...
Persistent link: https://www.econbiz.de/10010299496
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The US government's social cost of carbon estimates after their first year: Pathways for improvement
Kopp, Robert E.; Mignone, Bryan K. - 2011
In 2010, the U.S. government adopted its first consistent estimates of the social cost of carbon (SCC) for government-wide use in regulatory cost-benefit analysis. Here, we examine a number of the limitations of the estimates identified in the U.S. government report and elsewhere and review...
Persistent link: https://www.econbiz.de/10010304808