|
EconStor >
The Economic and Social Research Institute (ESRI), Dublin >
ESRI Working Papers, The Economic and Social Research Institute (ESRI) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/50174
|
| | |
| Title: | | Checking the price tag on catastrophe: The social cost of carbon under non-linear climate response  |
| Authors: | | Ceronsky, Megan Anthoff, David Hepburn, Cameron Tol, Richard S. J. |
| Issue Date: | | 2011 |
| Series/Report no.: | | ESRI working paper 392 |
| 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. |
| Subjects: | | climate change catastrophe non-linearity impacts |
| Document Type: | | Working Paper |
| Appears in Collections: | | ESRI Working Papers, The Economic and Social Research Institute (ESRI)
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/50174
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|