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Uncertainty and climate change policy

Author

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  • Quiggin, John

Abstract

The paper consists of a summary of the main sources of uncertainty about climate change, and a discussion of the major implications for economic analysis and the formulation of climate policy. Uncertainty typically implies that the optimal policy is more risk-averse than otherwise, and therefore enhances the case for action to mitigate climate change.

Suggested Citation

  • Quiggin, John, 2008. "Uncertainty and climate change policy," Risk and Sustainable Management Group Working Papers 152092, University of Queensland, School of Economics.
  • Handle: RePEc:ags:uqsers:152092
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    File URL: http://ageconsearch.umn.edu/record/152092/files/WPC08_2.pdf
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    References listed on IDEAS

    as
    1. Adamson, David & Mallawaarachchi, Thilak & Quiggin, John C., 2007. "Climate change and climate uncertainty in the Murray-Darling Basin," 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand 10361, Australian Agricultural and Resource Economics Society.
    2. Lenos Trigeorgis, 1993. "Real Options and Interactions With Financial Flexibility," Financial Management, Financial Management Association, vol. 22(3), Fall.
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    Citations

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    Cited by:

    1. Pedro Conceição & Yanchun Zhang, 2010. "Discounting in the context of climate change economics: the policy implications of uncertainty and global asymmetries," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 12(1), pages 31-57, June.
    2. Aldred, Jonathan, 2013. "Justifying precautionary policies: Incommensurability and uncertainty," Ecological Economics, Elsevier, vol. 96(C), pages 132-140.
    3. Noah Kaufman, 2012. "The bias of integrated assessment models that ignore climate catastrophes," Climatic Change, Springer, vol. 110(3), pages 575-595, February.

    More about this item

    Keywords

    Environmental Economics and Policy; Resource /Energy Economics and Policy; Risk and Uncertainty;

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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