-DICE2016, which is designed to address three key aspects of climateeconomy models: treatment of uncertainty, the use of more … difficulties identified with IAMs, the choice of the risk aversion parameter and the underestimation of damages, are also directly … parameters whose distributions have "fat tails". Uncertainty is accommodated via the state-contingent approach enabling us to …

intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is …

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. … the resulting warming over the next decades and centuries highly uncertain. We quantify how this uncertainty changes the …

and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic … ; discounting ; intertemporal substitutability ; risk aversion ; uncertainty …Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a …

of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields …The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a … general framework that can cope with various forms of uncertainty, it is shown that the response of the consumption discount …

of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields …The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a … general framework that can cope with various forms of uncertainty, it is shown that the response of the consumption discount …

or 1.5oC. The safe carbon budget is lower if uncertainty about the transient climate response is high and risk tolerance …

derives max-min, max-max and min-max regret policies to deal with this particular form of climate (model) uncertainty and with …

uncertainty over climate change and its impact, why there is so much uncertainty, and why we will continue to face uncertainty in … the near future. I also explain the policy implications of climate change uncertainty. First, the uncertainty … stronger actions to reduce CO2 emissions. Second, uncertainty interacts with two kinds of irreversibilities. First, CO2 remains …

and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a … comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the …