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Extensions and alternatives to climate change impact valuation: on the critique of IPCC Working Group III's impact estimates

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  • FANKHAUSER, SAMUEL
  • TOL, RICHARD S.J.
  • PEARCE, DAVID W.

Abstract

The paper discusses valuation issues in the context of climate change impact estimation. Issues addressed are aggregation of damage costs over diverse regions (particularly equity-weighting), differentiation of per-unit values, willingness to pay versus willingness to accept compensation as a basis for valuation, and accountability for impacts. Numerical illustrations show that the damage cost estimates are quite sensitive to the assumptions made on these issues.

Suggested Citation

  • Fankhauser, Samuel & Tol, Richard S.J. & Pearce, David W., 1998. "Extensions and alternatives to climate change impact valuation: on the critique of IPCC Working Group III's impact estimates," Environment and Development Economics, Cambridge University Press, vol. 3(1), pages 59-81, February.
    • Handle: RePEc:cup:endeec:v:3:y:1998:i:01:p:59-81_00
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