Anthoff, David (contributor); Tol, Richard S. J. (contributor) - 2008
The Stern Review reported a social cost of carbon of over $300/tC, calling for ambitious climate policy. We here … rate of risk aversion. We show that the social cost of carbon lies anywhere in between 0 and $120,000/tC. However, if we … restrict these two parameters to match observed behavior, an expected social cost of carbon of $60/tC results. If we correct …