Climatic Cost-benefit Analysis Under Uncertainty and Learning on Climate Sensitivity and Damages
Ecological Economics, 2018, vol. 154, issue C, 99-106
Cost-benefit analyses on climate change have drawn considerable critique, primarily due to contestable choices of discounting and high uncertainties in climate sensitivity and climatic damages. Consequentially, it is argued that cost-benefit analysis can suggest mitigation rates that are nearly arbitrary. This article investigates how firm conclusions can be made from cost-benefit analysis if the main uncertainties are considered endogenously in the analysis and an extensive sensitivity analysis is carried out regarding the contestable assumptions.
Keywords: Climate change; Cost-benefit analysis; Social cost of carbon; Integrated assessment models; Uncertainty (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:154:y:2018:i:c:p:99-106
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