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dc.contributor.authorWeitzman, Martin L.en
dc.date.accessioned2009-12-07-
dc.date.accessioned2009-12-08T15:27:59Z-
dc.date.available2009-12-08T15:27:59Z-
dc.date.issued2009-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v3|h2009-39|nKiel Institute for the World Economy (IfW)|lKiel|y2009|p1-29en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2009-39en
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
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelQ54en
dc.subject.ddc330en
dc.subject.keywordClimate changeen
dc.subject.keywordfat tailsen
dc.subject.stwKlimaveränderungen
dc.subject.stwSoziale Kostenen
dc.subject.stwSoziale Diskontrateen
dc.subject.stwRisikoen
dc.subject.stwStatistische Verteilungen
dc.subject.stwTheorieen
dc.titleAdditive damages, fat-tailed climate dynamics, and uncertain discounting-
dc.typeArticleen
dc.identifier.ppn614386799en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:200939en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume3en
econstor.citation.issue2009-39en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2009en
econstor.citation.startpage1en
econstor.citation.endpage29en

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