Climate change is a phenomenon beset with major uncertainties and researchers should include them in Integrated … Assessment Models. However, including further dimensions in IAM models comes at a cost. In particular, it makes most of these … problems. In an attempt to advance in the modelling of adaptation within IAM models, we apply this methodology to shed some …

We present a modification of the most commonly used integrated assessment model (IAM) of climate change (DICE-2016), AD-DICE … appropriate utility functions, and including adaptation policies to climate change. These modifications ensure that two of the key … include more state (seven) and control variables (four) than recursive derivatives of DICE. Our approach to uncertainty …

optimal carbon tax in a stochastic dynamic programming implementation of an integrated assessment model of climate change. We … derive a general analytic formula for the "risk premium" governing the resulting climate policy. The formula generalizes …

Climate change stands as one of the most formidable challenges in the twenty-first century. Despite this, our … understanding of the unfolding and interconnection of climate-related physical and transitional risks, and their implications for … formulation of effective climate change policies. In this context, our chapter emphasizes the need for a comprehensive and …

responsiveness of mitigation to changes in adaptation decreases. Compared to a world without climate catastrophes, risk reduces the … balance in the context of climate catastrophic risk. The investigation enriches an integrated assessment model introducing the … endogenous link between the probability of experiencing a climate-change related catastrophic event, the temperature increase …