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Methodological aspects of recent climate change damage cost studies

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Author Info
Onno J. Kuik
Barbara Bucher
Michela Catenacci
Etem Karakaya
Richard S.J. Tol () (Economic and Social Research Institute, Dublin)

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Abstract

This paper discusses methodological aspects of recent climate change damage studies. Assessing the total and/or marginal damage costs of environmental change is often difficult and it is certainly difficult in the case of climate change. A major obstacle is the uncertainty on the physical impacts of climate change, especially related to extreme events and so-called ‘low-probability high-impact’ scenarios. The subsequent transposition of physical impacts into monetary terms is also a delicate step, given that climate change impacts involve both market and non-market goods and services, covering health, environmental and social values, and that impacts may be distant in time and space. The complexity of climate change cost assessment thus involves several crucial dimensions, including non-market evaluation, risk and uncertainty, baseline definition, equity and discounting, further elaborated in this paper in the course of the overview of the literature and of the overview and evaluation of the key methodological issues.

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File URL: http://www.fnu.zmaw.de/fileadmin/fnu-files/publication/working-papers/methodologicalaspectswp.pdf
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File Function: First version, 2006
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Publisher Info
Paper provided by Research unit Sustainability and Global Change, Hamburg University in its series Working Papers with number FNU-122.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 23 pages
Date of creation: Dec 2006
Date of revision: Dec 2006
Publication status: Published, Integrated Assessment Journal, 8 (1), 19-40
Handle: RePEc:sgc:wpaper:122

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Web page: http://www.fnu.zmaw.de/
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Related research
Keywords: Climate change damage costs; cost of inaction; methodological aspects; risk and uncertainty; discounting; equity;

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Find related papers by JEL classification:
Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters

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    Other versions:
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    Other versions:
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    Other versions:
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