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Optimal timing of CO2 mitigation policies for a cost-effectiveness model


  • L. Doyen

    (CESCO - Centre d'Ecologie et des Sciences de la COnservation - MNHN - Muséum National d'Histoire Naturelle - UPMC - Université Pierre et Marie Curie - Paris 6 - CNRS - Centre National de la Recherche Scientifique)

  • Patrice Dumas

    () (LMD - Laboratoire de Météorologie Dynamique (UMR 8539) - UPMC - Université Pierre et Marie Curie - Paris 6 - INSU - CNRS - Institut national des sciences de l'Univers - X - École polytechnique - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - Département des Géosciences - ENS Paris - ENS Paris - École normale supérieure - Paris)

  • P. Ambrosi

    (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CIRAD - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)


This paper deals with the regulation of greenhouse gases emissions related to climate change. We consider a stylized climate-economy sequential model and use a cost-effectiveness approach. The analytical study is based on a dynamic programming method. It provides both a tolerable ceiling of concentration and, under simple conditions involving the marginal abatement cost and emission functions, optimal and effective abatement rates. In particular, we prove how the cost effective abatement rate increases with time. Through the optimal time to act function, we examine in detail the role played by greenhouse gases absorption, growth and discount rates. We also analyze the paths from an intergenerational equity perspective. Numerical examples illustrate the general statements. © 2007 Elsevier Ltd. All rights reserved.

Suggested Citation

  • L. Doyen & Patrice Dumas & P. Ambrosi, 2008. "Optimal timing of CO2 mitigation policies for a cost-effectiveness model," Post-Print hal-00716356, HAL.
  • Handle: RePEc:hal:journl:hal-00716356
    DOI: 10.1016/j.mcm.2007.11.010
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    References listed on IDEAS

    1. Gjerde, Jon & Grepperud, Sverre & Kverndokk, Snorre, 1999. "Optimal climate policy under the possibility of a catastrophe," Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 289-317, August.
    2. Vincent Gitz & Philippe Ciais, 2003. "Amplifying effects of land-use change on future atmospheric CO2 levels," Post-Print halshs-00009826, HAL.
    3. Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
    4. David Keith & Minh Ha-Duong & Joshua Stolaroff, 2006. "Climate strategy with CO2 capture from the air," Post-Print halshs-00003926, HAL.
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