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Is there space for agreement on climate change? A non-parametric approach to policy evaluation

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  • Dietz, Simon
  • Matei, Anca N.

Abstract

Economic evaluation of climate policy is notoriously dependent on assumptions about time and risk preferences, since reducing greenhouse gas emissions today has a highly uncertain payoff, far into the future. These assumptions have always been much debated. Rather than occupy a position in this debate, we take a non-parametric approach here, based on the concept of Time-Stochastic Dominance. Using an integrated assessment model, we apply Time-Stochastic Dominance analysis to climate change, asking are there global emissions abatement targets that everyone who shares a broad class of time and risk preferences would agree to prefer? Overall we find that even tough emissions targets would be chosen by almost everyone, barring those with arguably `extreme' preferences.

Suggested Citation

  • Dietz, Simon & Matei, Anca N., 2014. "Is there space for agreement on climate change? A non-parametric approach to policy evaluation," 2014 Conference (58th), February 4-7, 2014, Port Macquarie, Australia 165822, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare14:165822
    DOI: 10.22004/ag.econ.165822
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    Environmental Economics and Policy;

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