PAGE09 is an updated version of the PAGE2002 integrated assessment model (Hope <CitationRef CitationID="CR14">2011a</CitationRef>). The default PAGE09 model gives a mean estimate of the social cost of CO<Subscript>2</Subscript> (SCCO<Subscript>2</Subscript>) of $106 per tonne of CO<Subscript>2</Subscript>, compared to $81 from the PAGE2002 model used in the Stern review (Stern <CitationRef CitationID="CR24">2007</CitationRef>). The increase is the net...</citationref></subscript></subscript></subscript></citationref>

This timely Handbook reviews many key issues in the economics of energy and climate change, raising new questions and offering solutions that might help to minimize the threat of energy-induced climate change.

At the recent UN climate negotiations in Bali, most countries sought an agreement to cut industrialized countries' emissions of CO₂ by between 25% and 40% by 2020. The final agreed wording at Bali was that 'deep cuts' in emissions were required, without further quantification. The PAGE2002...

This study quantifies the costs and impacts of six scenarios for carbon dioxide(CO₂) and sulphur dioxide(SO₂) emissions in North East Asia(NEA) within an integrated probabilistic analysis. The inclusion of the cooling effect of sulphates means that CO₂ control in China would be likely to...

The purpose of this study is to investigate the temporal aspects of the social cost of greenhouse gases. We are particularly interested in the interaction between time of emissions, discounting and type of greenhouse gas (where different greenhouse gases have different atmospheric life time). We...

Monetary valuation of climate-change impacts, and the cost-benefit analysis of climate-change policy into which it feeds, has long been controversial. Writers in ecological economics have done much to illuminate its difficulties. For the purposes of this paper, the key difficulties of the...

This study demonstrates an empirical application of a cost benefit analysis for hydro projects, which includes social and environmental as well as economic aspects. The model treats uncertain inputs by specifying them as probability distributions. A proposed hydro project in Sri Lanka is used as...

High crude oil prices and the eventual decline of conventional oil production raise the issue of alternative fuels such as non-conventional oil. The paper describes a simple probabilistic model of the costs of synthetic crude oil produced from Canadian oil sands. Synthetic crude oil is obtained...

Recent thinking about the economics of climate change has concerned the uncertainty about the upper bound of both climate sensitivity to greenhouse gases and the damages that might occur at high temperatures. This argument suggests that the appropriate probability distributions for these factors...