Solar geoengineering (SGE) can combat climate change by directly reducing temperatures. Both SGE and the climate itself are surrounded by great uncertainties. Implementing SGE affects learning about these uncertainties. We model endogenous learning over two uncertainties: the sensitivity of...

The Paris Agreement has set stringent temperature targets to limit global warming to 2°C above preindustrial level, with efforts to stay well below 2°C. At the same time, its bottom-up approach with voluntary national contributions makes the implementation of these ambitious targets...

The rebound effect is a well-known behavioral response whereby potential energy savings from efficiency improvements are partially offset by increased consumption of energy services, as the marginal cost of energy services is reduced. This paper characterizes a similar rebound effect related to...

This paper introduces geoengineering into an optimal control model of climate change economics. Together with mitigation and adaptation, carbon and solar geoengineering span the universe of possible climate policies. Their wildly different characteristics have important implications for climate...