David Anthoff () (Research unit Sustainability and Global Change, Hamburg University) Richard S.J. Tol () (Economic and Social Research Institute, Dublin)
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Estimates of the marginal damage costs of carbon dioxide emissions require the aggregation of monetised impacts of climate change over people with different incomes and in different jurisdictions. Implicitly or explicitly, such estimates assume a social welfare function and hence a particular attitude towards equity and justice. We show that previous approaches to equity weighing are inappropriate from a national decision maker’s point of view, because domestic impacts are not valued at domestic values. We propose four alternatives (sovereignty, altruism, good neighbour, and compensation) with different views on concern for and liability towards foreigners. The four alternatives imply radically estimates of the social cost of carbon and hence the optimal intensity of climate policy.
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Paper provided by Research unit Sustainability and Global Change, Hamburg University in its series Working Papers with number
FNU-127.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Samuel Fankhauser & Richard S.J. Tol, 2001.
"On Climate Change And Economic Growth,"
Working Papers
FNU-10, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2002.
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