the aggregate risk, i.e., that have a larger income elasticity of net benefits. In theory, this is done by adjusting …Because of risk aversion, any sensible investment valuation system should value less Projects that contribute more to … public and private institutions and people use a discount rate that is rather insensitive to the risk profile of their …

composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …

climate change. The risk of uncertain and potentially irreversible catastrophes is an important issue related to the latter … benchmark integrated assessment model. This study moves beyond recent catastrophe or tipping point studies with arbitrary risk … introduced here informs risk management strategies that balance uncertain future climate change impacts with the costs of …