, clean technological progress, as well as uncertainty about climatic and economic factors, lead to lower emissions and … relative to a 'straw man' model with perfect capital mobility, fixed abatement costs and no uncertainty. …

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

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 …

We introduce a “smart” cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty …

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. …