from climate change to damages is subject to uncertainty, as opposed to risk, and we use robust control to study efficiency …

al., 2012). Using real options theory, both studies conclude that climate policy adoption should be accelerated. However …

. Finally, the mere risk of a cap on global warming being enforced at some unknown, future date makes fossil fuel extraction …

composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …

of climate risk that is significantly amplified and increasing in magnitude as climate change increases due to aversion …

We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that … different aversions to risk and intertemporal fluctuations, convex damages, uncertainties in economic growth, atmospheric carbon …-run climate feedbacks. Our non-certainty-equivalent rule for the SCC incorporates precaution, risk insurance, and climate …

. Uncertainty about the future rate of growth of the economy and emissions and the risk of macroeconomic disasters (tail risks) also …