Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/28955
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dc.contributor.authorWeitzman, Martin L.en_US
dc.date.accessioned2009-12-07en_US
dc.date.accessioned2009-12-08T15:27:59Z-
dc.date.available2009-12-08T15:27:59Z-
dc.date.issued2009en_US
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal |v3 |h2009-39 |p1-29 |qdoi:10.5018/economics-ejournal.ja.2009-39en_US
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2009-39-
dc.identifier.urihttp://hdl.handle.net/10419/28955-
dc.description.abstractThis paper in applied theory argues that there is a loose chain of reasoning connecting the following three basic links in the economics of climate change: 1) additive disutility damages may be appropriate for analyzing some impacts of global warming; 2) an uncertain feedback-forcing coefficient, which might be near one with infinitesimal probability, can cause the distribution of the future time trajectory of global temperatures to have fat tails and a high variance; 3) when high-variance additive damages are discounted at an uncertain rate of pure time preference, which might be near zero with infinitesimal probability, it can make expected present discounted disutility very large. Some possible implications for welfare analysis and climate-change policy are briefly noted.en_US
dc.language.isoengen_US
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen_US
dc.subject.jelQ54en_US
dc.subject.ddc330en_US
dc.subject.keywordClimate changeen_US
dc.subject.keywordfat tailsen_US
dc.subject.stwKlimaveränderungen_US
dc.subject.stwSoziale Kostenen_US
dc.subject.stwSoziale Diskontrateen_US
dc.subject.stwRisikoen_US
dc.subject.stwStatistische Verteilungen_US
dc.subject.stwTheorieen_US
dc.titleAdditive damages, fat-tailed climate dynamics, and uncertain discountingen_US
dc.type|aArticleen_US
dc.identifier.ppn614386799en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifweej:200939-

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