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A shapley value approach to pricing climate risks

Cooke, Roger M. - 2011

government social cost of carbon analysis, and are done with DICE2009. …

Persistent link: https://www.econbiz.de/10010304807

Taking Time Seriously: Implications for Optimal Climate Policy

Grubb, Michael; Lange, Rutger-Jan; Cerkez, Nicolas; … - 2020

Induced innovation and associated issues of path dependence and inertia are of critical importance in the transition to a carbon free economy. We develop a model that, instead of modeling these processes themselves, models the implications of these characteristics and in the process allows us to...

Persistent link: https://www.econbiz.de/10012427183

Intertemporal Distribution, Suffciency, and the Social Cost of Carbon

Hänsel, Martin C.; Quaas, Martin F. - In: Ecological Economics 146 (2018), pp. 520-535

". We numerically illustrate our results in DICE and find that the social cost of carbon increases over-proportionally with …

Persistent link: https://www.econbiz.de/10012502183

Smart Cap

Karp, Larry S.; Träger, Christian - 2021

We introduce a “smart” cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty”). This cap responds endogenously to technology or macroeconomic shocks, relying on the market price of certificates to aggregate information. It allows policy makers to...

Persistent link: https://www.econbiz.de/10012581980

Optimal climate policy with fat-tailed uncertainty: What the models can tell us

De Bruin, Kelly C.; Krishnamurthy, Chandra Kiran - 2021

We present a modification of the most commonly used integrated assessment model (IAM) of climate change (DICE-2016), AD-DICE … include more state (seven) and control variables (four) than recursive derivatives of DICE. Our approach to uncertainty …

Persistent link: https://www.econbiz.de/10012606245

Pricing Climate Risk

Jensen, Svenn; Traeger, Christian P.; Träger, Christian - 2021

Anthropogenic greenhouse gas emissions are changing the energy balance of our planet. Various climatic feedbacks make the resulting warming over the next decades and centuries highly uncertain. We quantify how this uncertainty changes the optimal carbon tax in a stochastic dynamic programming...

Persistent link: https://www.econbiz.de/10012657902

Implications of temperature overshoot dynamics for climate and carbon dioxide removal policies in the DICE model

Rickels, Wilfried; Schwinger, Jörg - In: Environmental Research Letters 16 (2021) 10

integrated climate–economy (DICE) integrated assessment model using two different climate-carbon cycle sub-models: first, the … original DICE implementation, and second an implementation of the finite amplitude impulse response (FaIR) simple climate model … version of DICE implies that the additional future temperature change after a cessation of a given CO2 emission scenario is …

Persistent link: https://www.econbiz.de/10012796017

Global Warming and a Potential Tipping Point in the Atlantic Thermohaline Circulation: The Role of Risk Aversion

Belaia, Mariia; Funke, Michael; Glanemann, Nicole - 2014

stronger near-term abatement. This paper re-examines this result with a DICE model that is fully coupled with a thermohaline …

Persistent link: https://www.econbiz.de/10010398676

Adapting to Climate Change: an Analysis under Uncertainty

García-León, David - 2016

Climate change is a phenomenon beset with major uncertainties and researchers should include them in Integrated Assessment Models. However, including further dimensions in IAM models comes at a cost. In particular, it makes most of these models suffer from the curse of dimensionality. In this...

Persistent link: https://www.econbiz.de/10011492378

William Nordhaus : a pioneer

Kolstad, Charles D. - In: Climate change economics 11 (2020) 4, pp. 1-7

Persistent link: https://www.econbiz.de/10012643029