is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …

uncertainty about the effects of increased greenhouse gas concentrations on climate. Criticisms of this controversial result fall …

realistic cases where only a limited fraction of climate uncertainty resolves, where future policy-makers have own agendas, or …

technological uncertainty favors taxes over cap and trade. Weitzman models a flow pollutant, but greenhouse gases are persistent …

the resulting warming over the next decades and centuries highly uncertain. We quantify how this uncertainty changes the … making under uncertainty. It clarifies the distinct roles of risk aversion, prudence, characteristics of the damage … formulation, and future policy response. We show that an optimal response to uncertainty substantially reduces the risk premium. …