optimal policy design in a context with more than one externality while taking explicitly into account uncertainty surrounding …-focused. Besides uncertainty on the state of the world concerning actual marginal emission damage, we consider the technological … progress through R&D as well as learning-by-doing. A portfolio of three policy instruments is then needed to cope with the …

inertia and adjustment costs, which penalize a swift transition away from fossil fuels, and (ii) climate uncertainty that, for … optimal decarbonization investment strategy when both delayed learning about the remaining carbon budget and adjustment costs … are present. The findings show that delaying learning about the remaining carbon budget impacts investment in three ways …

produced by climate-economy models while introducing the dimension of uncertainty in innovation ef- forts, without succumbing …, bioelectricity and personal electric vehicle batteries), taking into account the uncertainty surrounding the effectiveness of …

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 …