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dc.contributor.authorKousky, Carolynen_US
dc.contributor.authorKopp, Robert E.en_US
dc.contributor.authorCooke, Rogeren_US
dc.description.abstractReducing greenhouse gas emissions not only lowers expected damages from climate change but also reduces the risk of catastrophic impacts. However, estimates of the social cost of carbon, which measures the marginal value of carbon dioxide abatement, often do not capture this risk reduction benefit. Risk-averse individuals are willing to pay a risk premium, an additional amount beyond the difference in expected damages, to reduce risks. The authors review methods used and estimates obtained for calculating a risk premium to be included in the social cost of carbon. While more research is needed in this area, work to date suggests a positive risk premium on the social cost of carbon is warranted.en_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesEconomics Discussion Papers 2011-19en_US
dc.subject.keywordClimate changeen_US
dc.subject.keywordsocial cost of carbonen_US
dc.subject.keywordrisk premiumen_US
dc.subject.stwSoziale Kostenen_US
dc.subject.stwWissenschaftliche Methodeen_US
dc.titleRisk premia and the social cost of carbon: A reviewen_US
dc.typeWorking Paperen_US
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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