Is the Uncertainty about Climate Change too Large for Expected Cost-Benefit Analysis?

By Richard S. J. Tol. 2003

235 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/ae9259dc5f45c9d43b916c16dbbbb8e3acc2cc6b

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Citations in the corpus

What are robust strategies in the face of uncertain climate threshold responses? (2012, methodology): “If these samples correspond to the worst-case outcomes, the strategy that maximizes the minimum utility depends heavily on sampling resolution (see Tol 2003, for a similar result).”
Why Worry about Climate Change? A Research Agenda (2008, background): “An extreme scenario would dominate other, less extreme scenarios only under particular assumptions about utility and welfare (Tol, 2003) and about international aid (Tol and Yohe, 2005).”
The Economic Effects of Climate Change (2009, background): “…medians or modes of these studies is inadequate because it does not give a fair sense of the uncertainty surrounding these estimates—it is particularly hard to discern the right tail of the distribution, which may dominate the policy analysis (Tol, 2003; Tol and Yohe, 2007a; Weitzman, forthcoming).”
The Social Cost of Carbon and its Policy Implications (2003, background): “Tol has since produced yet another update: FUND 2.4 – Tol (2002c).”
Targets for global climate policy: an overview (2013, background): “(2009a) and Anthoff and Tol (2010b) explore equity weights in the context of a regional decision maker.”
Why Economic Analysis Supports Strong Action on Climate Change: A Response to the Stern Review's Critics (2008, background): “Yet very few of these studies extend to an application of expected-utility analysis (exceptions are Tol 1999, 2003), where climate risks can be valued in relation to society’s attitudes to taking such risks.”
The Social Cost of Carbon: Trends, Outliers and Catastrophes (2008, unknown): “See also Tol (2003) and Tol and Yohe (2007b).”
The marginal damage costs of carbon-dioxide emissions’ (2005, background): “Equity weighing leads to a higher estimate of the marginal damage costs and particularly to greater uncertainty (Tol, 2003; Yohe, 2003).”
Multi-Gas Emission Reduction for Climate Change Policy: An Application of Fund (2006, unknown): “Section 4 concludes.”
Infinite uncertainty, forgotten feedbacks, and cost-benefit analysis of climate policy (2007, methodology): “Section 2 describes some of the details in the modelling environment, which has evolved since Tol (2003).”
Discounting and the social cost of carbon: A closer look at uncertainty (2006, background): “In settings where g 0 cannot be ruled out (cf., Tol, 2003), in order to ensure that the discount rates are declining requires restrictions on the fifth derivative of the utility function, which is obviously impossible to test in the near future.”