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dc.contributor.authorAnthoff, Daviden_US
dc.contributor.authorTol, Richard S. J.en_US
dc.contributor.authorYohe, Gary W.en_US
dc.date.accessioned2011-09-30T09:59:21Z-
dc.date.available2011-09-30T09:59:21Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/50101-
dc.description.abstractThe Stern Review reported a social cost of carbon of over $300/tC, calling for ambitious climate policy. We here conduct a systematic sensitivity analysis of this result on two crucial parameters: the rate of pure time preference, and the rate of risk aversion. We show that the social cost of carbon lies anywhere in between 0 and $120,000/tC. However, if we restrict these two parameters to match observed behavior, an expected social cost of carbon of $60/tC results. If we correct this estimate for income differences across the world, the social cost of carbon rises to over $200/tC.en_US
dc.language.isoengen_US
dc.publisherESRI Dublinen_US
dc.relation.ispartofseriesESRI working paper 252en_US
dc.subject.ddc330en_US
dc.subject.stwKlimaschutzen_US
dc.subject.stwLuftverunreinigungen_US
dc.subject.stwKohlendioxiden_US
dc.subject.stwSoziale Kostenen_US
dc.subject.stwZeitpräferenzen_US
dc.subject.stwRisikoaversionen_US
dc.subject.stwOECD-Staatenen_US
dc.titleRisk Aversion, time preference, and the social cost of carbonen_US
dc.typeWorking Paperen_US
dc.identifier.ppn578240181en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:ESRI Working Papers, The Economic and Social Research Institute (ESRI)

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