gradual resolution of uncertainty lowers them. For temperature-dependent economic damage tipping points, carbon prices are … the risk-adjusted interest rate. Adding damages leads to a higher carbon price that grows more slowly. But as temperature …

market instruments. Using intergenerational risk sharing arrangements, risks can be allocated better across the various …

to economic activity and this makes CO2 prices grow at the same rate as the economy. Second, even if uncertainty about … CO2 prices must rise at a rate equal to the risk-adjusted interest rate, typically higher than the economic growth rate …. Summing up, CO2 prices must rise at a rate at least equal to the economic growth rate and at most to the risk …