@techreport{Ceronsky2011Checking,
abstract = {Research into the social cost of carbon emissions - the marginal social damage from a tonne of emitted carbon - has tended to focus on best guess scenarios. Such scenarios generally ignore the potential for low-probability, high-damage events, which are critically important to determining optimal climate policy. This paper uses the FUND integrated assessment model to investigate the influence of three types of low-probability, high-impact climate responses on the social cost of carbon: the collapse of the Atlantic Ocean Meridional Overturning Circulation; large scale dissociation of oceanic methane hydrates; and climate sensitivities above best guess levels. We find that incorporating these events can increase the social cost of carbon by a factor of over 3.},
address = {Dublin},
author = {Megan Ceronsky and David Anthoff and Cameron Hepburn and Richard S. J. Tol},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {330; climate change; catastrophe; non-linearity; impacts},
language = {eng},
number = {392},
publisher = {ESRI},
title = {Checking the price tag on catastrophe: The social cost of carbon under non-linear climate response},
type = {ESRI working paper},
url = {http://hdl.handle.net/10419/50174},
year = {2011}
}
