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Uncertainty in Integrated Assessment Models of Climate Change: Alternative Analytical Approaches AgEcon
Golub, Alexander; Narita, Daiju; Schmidt, Matthias G.W..
Uncertainty plays a key role in the economics of climate change, and the discussions surrounding its implications for climate policy are far from settled. We give an overview of the literature on uncertainty in integrated assessment models of climate change and identify some future research needs. In the paper, we pay particular attention to three different and complementary approaches that model uncertainty in association with integrated assessment models: the discrete uncertainty modeling, the most common way to incorporate uncertainty in complex climate-economy models: the real options analysis, a simplified way to identify and value flexibility: the continuous-time stochastic dynamic programming, which is computationally most challenging but necessary...
Tipo: Working or Discussion Paper Palavras-chave: Uncertainty; Learning; Economics of Climate Change; Integrated Assessment Models; Real Options; Environmental Economics and Policy; D81; Q54; C61.
Ano: 2011 URL: http://purl.umn.edu/99638
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Equity and Justice in Global Warming Policy AgEcon
Kverndokk, Snorre; Rose, Adam Z..
Many countries are implementing or at least considering policies to counter increasingly certain negative impacts from climate change. An increasing amount of research has been devoted to the analysis of the costs of climate change and its mitigation, as well as to the design of policies, such as the international Kyoto Protocol, post-Kyoto negotiations, regional initiatives, and unilateral actions. Although most studies on climate change policies in economics have considered efficiency aspects, there is a growing literature on equity and justice. Climate change policy has important dimensions of distributive justice, both within and across generations, but in this paper we survey only studies on the intragenerational aspect, i.e., within a generation. We...
Tipo: Working or Discussion Paper Palavras-chave: Economics of Climate Change; Intragenerational Equity; Distributive Justice; Environmental Economics and Policy; D62; D63; H23; H41; Q00.
Ano: 2008 URL: http://purl.umn.edu/44230
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