guess” levels. We find that incorporating these impacts can increase the social cost of carbon by a factor of 20 …

aversion, and inequity aversion. Given the large uncertainties about climate change and widely asymmetric impacts, the assumed … that the impacts of climate change grow slower than income, so that the effective discount rate is higher than the real … cost of carbon is indeed arbitrary - as one can exclude neither large positive nor large negative impacts in the very long …

aversion, and inequity aversion. Given the large uncertainties about climate change and widely asymmetric impacts, the assumed … change. We also find that the impacts of climate change grow slower than income, so the effective discount rate is higher … negative impacts in the very long run. However, if we probabilistically constrain the parameters to values that are implied by …

. China, Western Europe and the United States have the highest share of harmful impacts, with the precise order depending on … the discount rate. The most important sectors in terms of impacts are agriculture and increased energy use for cooling. We …