Ethics and Climate Change Cost-Benefit Analysis: Stern and after
The Stern Review on the economics of climate change (hereafter ‘Stern’) has received much attention regarding its potential political impact.1 It has also been extensively discussed among academic economists because its conclusions are more radical, in terms of action to mitigate climate change, than previous orthodox economic analyses. This paper aims to contribute to the debate by critically assessing three key features of climate change CBA, with particular reference to Stern: monetary valuation of human life, discounting, and the treatment of risk and uncertainty. This assessment reveals some common themes, which are examined in the final section. They concern the tensions which emerge in climate change CBA between ethical arguments, market-based preferences, and the claims of CBA to scientific objectivity.
|Date of creation:||2009|
|Date of revision:||2009|
|Contact details of provider:|| Postal: 19 Silver Street, Cambridge CB3 9EP|
Phone: +44 1223 337147
Fax: +44 1223 337130
Web page: http://www.landecon.cam.ac.uk
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:lnd:wpaper:442009. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Unai Pascual)
If references are entirely missing, you can add them using this form.