Extensions and alternatives to climate change impact valuation: on the critique of IPCC Working Group III's impact estimates

Samuel Fankhauser, Richard S.J. Tol () and David W. Pearce

Environment and Development Economics, 1998, vol. 3, issue 01, pages 59-81

Abstract: The paper discusses valuation issues in the context of climate change impact estimation. Issues addressed are aggregation of damage costs over diverse regions (particularly equity-weighting), differentiation of per-unit values, willingness to pay versus willingness to accept compensation as a basis for valuation, and accountability for impacts. Numerical illustrations show that the damage cost estimates are quite sensitive to the assumptions made on these issues.

Date: 1998
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