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Precaution And A Dismal Theorem: Implications For Climate Policy And Climate Research

Author

Listed:
  • Gary W. Yohe
  • Richard S.J. Tol

    (Economic and Social Research Institute, Dublin, Ireland)

Abstract

We discuss the implication of Weitzman's Dismal Theorem for climate policy and climate research.

Suggested Citation

  • Gary W. Yohe & Richard S.J. Tol, 2007. "Precaution And A Dismal Theorem: Implications For Climate Policy And Climate Research," Working Papers FNU-145, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2007.
    • Handle: RePEc:sgc:wpaper:145
    as

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    References listed on IDEAS

    as
    1. Anthoff, David & Tol, Richard S.J., 2010. "On international equity weights and national decision making on climate change," Journal of Environmental Economics and Management, Elsevier, vol. 60(1), pages 14-20, July.
    2. Christine Schleupner, 2005. "Spatial Analysis As Tool For Sensitivity Assessment Of Sea Level Rise Impacts On Martinique," Working Papers FNU-71, Research unit Sustainability and Global Change, Hamburg University, revised May 2005.
    3. Katrin Rehdanz & David Maddison, 2004. "The Amenity Value of Climate to German Households," Working Papers 2004.57, Fondazione Eni Enrico Mattei.
    4. P. Michael Link & Richard S. J. Tol, 2004. "Possible economic impacts of a shutdown of the thermohaline circulation: an application of FUND," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 3(2), pages 99-114, September.
    5. Andrea Bigano & Jacqueline M. Hamilton & Richard S.J. Tol, 2004. "The Impact Of Climate On Holiday Destination Choice," Working Papers FNU-55, Research unit Sustainability and Global Change, Hamburg University, revised Oct 2004.
    6. Beatriz Gaitan S. & Richard S.J. Tol & I. Hakan Yetkiner, 2006. "The Hotelling’s Rule Revisited in a Dynamic General Equilibrium Model," Papers of the Annual IUE-SUNY Cortland Conference in Economics, in: Oguz Esen & Ayla Ogus (ed.), Proceedings of the Conference on Human and Economic Resources, pages 213-238, Izmir University of Economics.
    7. Dritan Osmani & Richard S.J. Tol, 2005. "The case of two self-enforcing international agreements for environmental protection," Working Papers FNU-82, Research unit Sustainability and Global Change, Hamburg University, revised May 2006.
    8. David Anthoff & Robert J. Nicholls & Richard S.J. Tol, 2007. "Sea Level Rise And Equity Weighting," Working Papers FNU-136, Research unit Sustainability and Global Change, Hamburg University, revised May 2007.
    9. Mayor, Karen & Tol, Richard S.J., 2007. "The impact of the UK aviation tax on carbon dioxide emissions and visitor numbers," Transport Policy, Elsevier, vol. 14(6), pages 507-513, November.
    10. Jacqueline M. Hamilton & Maten A. Lau, 2004. "The Role Of Climate Information In Tourist Destination Choice Decision-Making," Working Papers FNU-56, Research unit Sustainability and Global Change, Hamburg University, revised Nov 2004.
    11. Francesco Bosello & Roberto Roson & Richard Tol, 2007. "Economy-wide Estimates of the Implications of Climate Change: Sea Level Rise," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 37(3), pages 549-571, July.
    12. Erkan Erdil & I. Hakan Yetkiner, 2004. "A Panel Data Approach for Income-Health Causality," Working Papers FNU-47, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2004.
    13. Richard S.J. Tol, 2006. "Multi-Gas Emission Reduction for Climate Change Policy: An Application of Fund," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 235-250.
    14. Jacqueline M. Hamilton & David J. Maddison & Richard S.J. Tol, 2003. "Climate Change And International Tourism: A Simulation Study," Working Papers FNU-31, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2003.
    15. Vassilis Lychnaras & Uwe A. Schneider, 2007. "Dynamic Economic Analysis of Perennial Energy Crops - EffectS of The CAP Reform on Biomass Supply in Greece," Working Papers FNU-132, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2007.
    16. Christine Schleupner, 2007. "Wetland distribution modelling for optimal land use options in Europe," Working Papers FNU-135, Research unit Sustainability and Global Change, Hamburg University, revised May 2007.
    17. Andrea Bigano & Jacqueline M. Hamilton & Maren A. Lau & Richard S.J. Tol & Zhou Yuan, 2004. "A Global Database Of Domestic And International Tourist Numbers At National And Subnational Level," Working Papers FNU-54, Research unit Sustainability and Global Change, Hamburg University, revised Nov 2004.
    18. David J. Maddison & Katrin Rehdanz, 2007. "Happiness Over Space And Time," Working Papers FNU-128, Research unit Sustainability and Global Change, Hamburg University, revised Feb 2007.
    19. de Bruin, Kelly C. & Dellink, Rob B. & Tol, Richard S.J., 2007. "AD-DICE: An Implementation of Adaptation in the DICE Mode," Climate Change Modelling and Policy Working Papers 9548, Fondazione Eni Enrico Mattei (FEEM).
    20. Richard S.J. Tol, 2004. "Exchange Rates And Climate Change: An Application Of Fund," Working Papers FNU-45, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2004.
    21. Malte Schwoon, 2006. "Learning-by-doing, Learning Spillovers and the Diffusion of Fuel Cell Vehicles," Working Papers FNU-112, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2006.
    22. Thomas Heinzow & Richard S.J. Tol, 2003. "Estimates Of The External And Sustainability Costs Of Climate Change," Working Papers FNU-32, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2003.
    23. Gary W. Yohe & Richard S.J. Tol & Dean Murphy, 2007. "On Setting Near-term Climate Policy while the Dust Begins to Settle: The Legacy of the Stern Review," Working Papers FNU-129, Research unit Sustainability and Global Change, Hamburg University, revised Mar 2007.
    24. Karen Mayor & Richard S.J. Tol, 2007. "The Impact of the EU-US Open Skies Agreement on International Travel and Carbon Dioxide Emissions," Papers WP191, Economic and Social Research Institute (ESRI).
    25. Katrin Rehdanz & Richard S.J. Tol, 2004. "On Multi-Period Allocation Of Tradable Emission Permits," Working Papers FNU-43, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2004.
    26. Frances Ruane & Richard S.J. Tol, 2007. "Refined (Successive) H-Indices: An Application To Economics In The Republic Of Ireland," Working Papers FNU-130, Research unit Sustainability and Global Change, Hamburg University, revised Mar 2007.
    27. Christine Schleupner, 2005. "Evaluation of coastal squeeze and beach reduction and its consequences for the Caribbean island Martinique," Working Papers FNU-72, Research unit Sustainability and Global Change, Hamburg University, revised May 2005.
    28. Malte Schwoon, 2006. "A Tool to Optimize the Initial Distribution of Hydrogen Filling Stations," Working Papers FNU-110, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2006.
    29. Zhou Yuan & Richard S.J. Tol, 2004. "Evaluating the costs of desalination and water transport," Working Papers FNU-41, Research unit Sustainability and Global Change, Hamburg University, revised Dec 2004.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Joseph E. Aldy & Alan J. Krupnick & Richard G. Newell & Ian W. H. Parry & William A. Pizer, 2010. "Designing Climate Mitigation Policy," Journal of Economic Literature, American Economic Association, vol. 48(4), pages 903-934, December.
    2. David Anthoff & Richard Tol, 2009. "The Impact of Climate Change on the Balanced Growth Equivalent: An Application of FUND," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 43(3), pages 351-367, July.
    3. Gernot Wagner & Richard Zeckhauser, 2012. "Climate policy: hard problem, soft thinking," Climatic Change, Springer, vol. 110(3), pages 507-521, February.
    4. Hennlock, Magnus, 2009. "Robust Control in Global Warming Management: An Analytical Dynamic Integrated Assessment," Working Papers in Economics 354, University of Gothenburg, Department of Economics.
    5. Nordhaus, William, 2013. "Integrated Economic and Climate Modeling," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 1069-1131, Elsevier.
    6. Hennlock, Magnus, 2009. "Robust Control in Global Warming Management: An Analytical Dynamic Integrated Assessment," RFF Working Paper Series dp-09-19, Resources for the Future.
    7. John E. Bistline, 2015. "Fat-Tailed Uncertainty, Learning, And Climate Policy," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 6(02), pages 1-21.
    8. Dritan Osmani, "undated". "A note on optimal transfer schemes, stable coalition for environmental protection and joint maximization assumption," Working Papers FNU-176, Research unit Sustainability and Global Change, Hamburg University.
    9. Adrian Vermeule, 2015. "Rationally Arbitrary Decisions in Administrative Law," The Journal of Legal Studies, University of Chicago Press, vol. 44(S2), pages 475-507.

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    More about this item

    Keywords

    climate change; uncertainty;

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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