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 … complementary approaches that model uncertainty in association with integrated assessment models: the discrete uncertainty modeling …

uncertainty, society must take robust preventive action to guard against worst-case outcomes. It follows that the higher the … degree of uncertainty, the more aggressive this preventive action should be. This normative maxim is explored in the case of … a stylized dynamic model of pollution control under Knightian uncertainty. At time 0 a decision-maker makes a one …