The availability of technology plays a major role in the feasibility and costs of climate policy. Nonetheless, technological change is highly uncertain and capital intensive, requiring risky efforts in research and development of clean energy technologies. In this paper, we introduce a two-track...

"Economic evaluation of climate policy traditionally treats uncertainty by appealing to expected utility theory. Yet our knowledge of the impacts of climate policy may not be sufficiently high quality to justify probabilistic beliefs. In such circumstances, it has been argued that the axioms of...

The Paris Agreement established that global warming should be limited to "well below" 2?C and encouraged efforts to limit warming to 1.5?C. Achieving this goal presents a significant challenge, especially given the presence of (i) economic inertia and adjustment costs, which penalize a swift...

Temperature responses and optimal climate policies depend crucially on the choice of a particular climate model. To illustrate, the temperature responses to given emission reduction paths implied by the climate modules of the well-known integrated assessments models DICE, FUND and PAGE are...

The Royal Society has recently published a report on geoengineering - deliberately manipulating the climate. Their survey of the techniques and possibilities is useful and clear, and explores some of the complexities of policy in this area. The issues of moral hazard - whether researching...