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circulation model. It also features Epstein-Zin utility and uncertainty about climate sensitivity that resolves after some time …
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Uncertainty is ubiquitous in environmental economics: the field studies interactions between socio-economic and … pervasive uncertainty is best modeled as ambiguity rather than risk, as a set of situations where multiple prior probability …
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Some recent research suggests that uncertainty about the response of the climate system to atmospheric greenhouse gas … to investigate the quantitative significance of climate response uncertainty for economic assessments of climate change …. First we characterize climate uncertainty by constructing two probability density functions—a Bayesian model-averaged and a …
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We estimate the value of information (VOI) for three key parameters of climate integrated assessment models (IAMs): marginal damages at low temperature anomalies, marginal damages at high temperature anomalies, and equilibrium climate sensitivity. Most empirical studies of climate damages have...
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