-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 …

growth rate impact if damages are presumably severe. We also study the effect of varying risk aversion and elasticity of … intertemporal substitution on our results. If damages are moderate for high temperatures, risk aversion only matters when climate … temperatures, then the results also become sensitive to risk aversion for both damage specifications. …

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 …

DICE based on empirical evidence and propose a plausible range for relative price changes. The uncertainty is substantial …

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 …

. Here we focus on the areas where IAMs can be deployed to asses uncertainty and risk management, learning, and regional … climate change, economy, and climate policies. The limitations of these models in capturing uncertainty in climate parameters … targets emerging from the Paris Agreement and the uncertainty about the signatories' commitment to Nationally Determined …