Optimal timing of CO2 mitigation policies for a cost-effectiveness model

Luc Doyen (), Patrice Dumas () and P. Ambrosi
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Patrice Dumas: LMD - Laboratoire de Météorologie Dynamique (UMR 8539) - UPMC - Université Pierre et Marie Curie - Paris 6 - INSU - CNRS - Institut national des sciences de l'Univers - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - Département des Géosciences - ENS-PSL - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres
P. Ambrosi: CIRED - centre international de recherche sur l'environnement et le développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique

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Abstract: This paper deals with the regulation of greenhouse gases emissions related to climate change. We consider a stylized climate-economy sequential model and use a cost-effectiveness approach. The analytical study is based on a dynamic programming method. It provides both a tolerable ceiling of concentration and, under simple conditions involving the marginal abatement cost and emission functions, optimal and effective abatement rates. In particular, we prove how the cost effective abatement rate increases with time. Through the optimal time to act function, we examine in detail the role played by greenhouse gases absorption, growth and discount rates. We also analyze the paths from an intergenerational equity perspective. Numerical examples illustrate the general statements. © 2007 Elsevier Ltd. All rights reserved.

Keywords: {Climate change; mitigation timing; cost-effectiveness; tolerable ceiling; dynamic programming; robustness (search for similar items in EconPapers)
Date: 2008
Note: View the original document on HAL open archive server: https://enpc.hal.science/hal-00716356v1
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Published in Mathematical and Computer Modelling, 2008, 48 (5-6), pp.882-897. ⟨10.1016/j.mcm.2007.11.010⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00716356

DOI: 10.1016/j.mcm.2007.11.010

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