Cost-benefit Analysis of Climate Change: Stern Revisited

Paul Baer and Clive Spash

MPRA Paper from University Library of Munich, Germany

Abstract: This paper explores the insurmountable challenges facing orthodox economic approaches to assessing climate control as if it were a matter of weighing-up the costs of money spent to benefits as the returns on an investment. Such am appraisal method borrows form project appraisal for financial investment and is inappropriate for addressing social costs. In appraising the recent approach to human induced climate change of to the UK Government report by Stern and colleagues serious flaws are noted that are equally applicable to other similar work by economists such as Nordhaus and Tol.

Keywords: Climate economics; cost-benefit analysis; Stern review; catastrophe; human induced change; public policy; evaluation; monetary valuation (search for similar items in EconPapers)
JEL-codes: B41 D61 D62 D63 H21 H23 O44 Q5 Q52 Q53 Q58 (search for similar items in EconPapers)
Date: 2008-05
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Cost-Benefit Analysis of Climate Change: Stern Revisited (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:101829

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