Critical issues for the calculation of the social cost of CO2: why the estimates from PAGE09 are higher than those from PAGE2002

By Chris Hope. Climatic Change, 2013

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Tipping elements and climate–economic shocks: Pathways toward integrated assessment (2016, methodology): “For example, in Nordhaus and Boyer [2000]’s DICE-99 integrated assessment model (IAM), an estimated willingness to pay to avoid such catastrophes—1.0% of output-weighted global GDP at 2.5∘C and 6.9% of output-weighted global GDP at 6∘C—constituted about two-thirds of the total estimated economic dam”
A Third Wave in the Economics of Climate Change (2015, methodology): “There are several POMs (e.g. PAGE2002/PAGE09) and extensions of POMs (e.g. Dietz and Stern (2015) for DICE) that attempt to deal with catastrophic outcomes explicitly.”