light on how the optimal balance between mitigation and adaptation changes under different stochastic scenarios. We find … that stochastic technology growth hardly affects the optimal bundle of mitigation and adaptation whereas uncertainty about … composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …

the optimal emission mitigation rates that maximize welfare accounting for the impact of the PCF. Finally, we quantify the … economic losses resulting from a mitigation policy which ignores this feedback mechanism. Our empirical results generally … indicate that accounting for the PCF leads to an increase in the optimal mitigation rates. …

-energy-intensive technologies reduces mitigation costs. Optimal taxes and subsidies are lower and there is less warming. …