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Cost-Benefit Analysis of Climate Change: Stern Revisited

  • Paul Baer
  • Clive L Spash

    ()

    (CSIRO Sustainable Ecosystems, Australia)

This paper explores the challenges facing orthodox economic approaches to assessing climate control as if it were appraisal of an investment project. Serious flaws are noted in the work of economists with especial attention to the UK Government report by Stern and colleagues. The opinions expressed in this paper are those of the authors and may not be taken to reflect the views CSIRO or the Australian Government.

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Paper provided by CSIRO Sustainable Ecosystems in its series Socio-Economics and the Environment in Discussion (SEED) Working Paper Series with number 2008-07.

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Length: 32 pages
Date of creation: May 2008
Date of revision:
Handle: RePEc:cse:wpaper:2008-07
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  1. repec:cup:cbooks:9780521685719 is not listed on IDEAS
  2. Spash, Clive L., 2007. "The economics of climate change impacts a la Stern: Novel and nuanced or rhetorically restricted?," Ecological Economics, Elsevier, vol. 63(4), pages 706-713, September.
  3. William D. Nordhaus, 2006. "The "Stern Review" on the Economics of Climate Change," NBER Working Papers 12741, National Bureau of Economic Research, Inc.
  4. Gintis, Herbert, 2000. "Beyond Homo economicus: evidence from experimental economics," Ecological Economics, Elsevier, vol. 35(3), pages 311-322, December.
  5. Michael Grubb, Carlo Carraro and John Schellnhuber, 2006. "Technological Change for Atmospheric Stabilization: Introductory Overview to the Innovation Modeling Comparison Project," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 1-16.
  6. Richard B. Howarth, 1997. "Sustainability as Opportunity," Land Economics, University of Wisconsin Press, vol. 73(4), pages 569-579.
  7. Vatn Arild & Bromley Daniel W., 1994. "Choices without Prices without Apologies," Journal of Environmental Economics and Management, Elsevier, vol. 26(2), pages 129-148, March.
  8. Stephen M. Gardner, 2006. "A Perfect Moral Storm: Climate Change, Intergenerational Ethics and the Problem of Moral Corruption," Environmental Values, White Horse Press, vol. 15(3), pages 397-413, August.
  9. Richard Tol, 2002. "Estimates of the Damage Costs of Climate Change, Part II. Dynamic Estimates," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 21(2), pages 135-160, February.
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