intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is … lower (higher) and the SCC higher (lower) than along an inequality-neutral growth path, especially if intra-generational and …A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude … is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …

assumption of (intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies 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 …

Weitzman's Dismal Theorem has that the expected net present value of a stock problem with a stochastic growth rate with …

. Uncertainty about the future rate of growth of the economy and emissions and the risk of macroeconomic disasters (tail risks) also … makers are more patient and if future generations are less affluent and policy makers care about intergenerational inequality … depress the social discount rate and boost the SCC provided intergenerational inequality aversion is high. Various reasons (e …

different aversions to risk and intertemporal fluctuations, convex damages, uncertainties in economic growth, atmospheric carbon …We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that …-run climate feedbacks. Our non-certainty-equivalent rule for the SCC incorporates precaution, risk insurance, and climate …

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 …