Recent thinking about the economics of climate change has concerned the uncertainty about the upper bound of both climate sensitivity to greenhouse gases and the damages that might occur at high temperatures. This argument suggests that the appropriate probability distributions for these factors...

Recent thinking about the economics of climate change has concerned the uncertainty about the upper bound of both climate sensitivity to greenhouse gases and the damages that might occur at high temperatures. This argument suggests that the appropriate probability distributions for these factors...

Monetary valuation of climate-change impacts, and the cost-benefit analysis of climate-change policy into which it feeds, has long been controversial. Writers in ecological economics have done much to illuminate its difficulties. For the purposes of this paper, the key difficulties of the...