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On valuing nature-based solutions to climate change : a framework with application to elephants and whales
Chami, Ralph; Cosimano, Thomas F.; Fullenkamp, Connel; … - 2020
We develop a framework for natural resource valuation that directly addresses the fundamental collective action problem …
Persistent link: https://www.econbiz.de/10012606984
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Non-marginal cost-benefit analysis and the tyranny of discounting
Vermeylen, Koen - 2013
This paper uses the Kaldor-Hicks compensation principle to compute the present value (PV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PV of future generations' willingness to pay (WTP) and the PV of their...
Persistent link: https://www.econbiz.de/10010227375
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Optimal climate policy under exogenous and endogenous technical change : making sense of the different approaches
Coppens, Léo; Dietz, Simon; Venmans, Frank - 2024
Integrated assessment models (IAMs) provide key inputs to decision-makers on economically efficient climate policies, and technical change is one of the key assumptions in any IAM that estimates mitigation costs. We conduct a systematic survey of how technical change is currently represented in...
Persistent link: https://www.econbiz.de/10014515010
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Discounting and climate policy
Ploeg, Frederick van der - 2020
The social rate of discount is a crucial driver of the social cost of carbon (SCC), i.e. the expected present discounted value of marginal damages resulting from emitting one ton of carbon today. Policy makers should set carbon prices to the SCC using a carbon tax or a competitive permits...
Persistent link: https://www.econbiz.de/10012249287
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Why uncertainty matters : discounting under intertemporal risk aversion and ambiguity
Traeger, Christian - 2012
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 discount rate, which is the crucial determinant in balancing...
Persistent link: https://www.econbiz.de/10009488887
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Incentives and stability of international climate coalitions : an integrated assessment
Bosetti, Valentina; Carraro, Carlo; De Cian, Enrica; … - 2011
This paper analyses the incentives to participate in and the stability of international climate coalitions. Using the integrated assessment model WITCH, the analysis of coalitions' profitability and stability is performed under alternative assumptions concerning the pure rate of time preference,...
Persistent link: https://www.econbiz.de/10009419726
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Priority for the worse off and the social cost of carbon
Adler, Matthew D.; Anthoff, David; Bosetti, Valentina; … - 2016
The social cost of carbon (SCC) is a monetary measure of the harms from carbon emission. Specifically, it is the reduction in current consumption that produces a loss in social welfare equivalent to that caused by the emission of a ton of CO2. The standard approach is to calculate the SCC using...
Persistent link: https://www.econbiz.de/10011547506
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General equilibrium approach consistent with travel cost method for economic evaluation of Beach erosion by climate change
Nakajima, Kazunori; Sakamoto, Naoki - 2013
Numerous attempts have been made to evaluate economic impacts by climate change, and the evaluation method can be … method includes a travel cost method (TCM) and a contingent valuation method. These methods have applied in some studies to … economic impacts of changes in natural environment by climate change and environmental conservation policies. On the other hand …
Persistent link: https://www.econbiz.de/10011565970
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Climate treaties and approaching catastrophes
Barrett, Scott - 2012 - 31 July 2011, Revised 24 July 2012, Second Revision 26 October 2012
density function has "thin" or "fat" tails makes little difference. --catastrophe ; uncertainty ; thresholds ; impacts …
Persistent link: https://www.econbiz.de/10009684058
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The Social Cost of Carbon and the Ramsey Rule
Withagen, Cees - 2019
The objective of this paper is to critically assess the use of simple rules for the social cost of carbon (SCC) that employ a rudimentary form of the Ramsey Rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth...
Persistent link: https://www.econbiz.de/10012892228