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Uncertainty and economic analysis of climate change : a survey of approaches and findings

  • Peterson, Sonja

The analysis of climate change is confronted with large uncertainties that need to be taken into account to arrive at meaningful policy recommendations. The main contribution of economics to this interdisciplinary task is to provide formal frameworks and techniques for analyzing climate policy in the context of uncertainty. This paper will give an overview of existing approaches and findings to provide a broad picture of what economics can contribute to the debate.

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File URL: http://econstor.eu/bitstream/10419/3778/1/Pe_Climate_Change.pdf
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Paper provided by Kiel Institute for the World Economy (IfW) in its series Open Access Publications from Kiel Institute for the World Economy with number 3778.

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Date of creation: 2006
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Handle: RePEc:zbw:ifwkie:3778
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  12. William D. Nordhaus & David Popp, 1997. "What is the Value of Scientific Knowledge? An Application to Global Warming Using the PRICE Model," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 1-45.
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  18. Grubb, Michael, 1997. "Technologies, energy systems and the timing of CO2 emissions abatement : An overview of economic issues," Energy Policy, Elsevier, vol. 25(2), pages 159-172, February.
  19. Geoffrey Heal & Bengt Kriström, 2002. "Uncertainty and Climate Change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 3-39, June.
  20. Plambeck, Erica L & Hope, Chris, 1996. "PAGE95 : An updated valuation of the impacts of global warming," Energy Policy, Elsevier, vol. 24(9), pages 783-793, September.
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  22. Pindyck, Robert S., 1998. "Irreversibilities and the timing of environmental policy," Working papers WP 4047-98., Massachusetts Institute of Technology (MIT), Sloan School of Management.
  23. Scott, Michael J. & Sands, Ronald D. & Edmonds, Jae & Liebetrau, Albert M. & Engel, David W., 1999. "Uncertainty in integrated assessment models: modeling with MiniCAM 1.0," Energy Policy, Elsevier, vol. 27(14), pages 855-879, December.
  24. Peck, Stephen C. & Teisberg, Thomas J., 1993. "Global warming uncertainties and the value of information: an analysis using CETA," Resource and Energy Economics, Elsevier, vol. 15(1), pages 71-97, March.
  25. Ha-Duong, Minh, 1998. "Quasi-option value and climate policy choices," Energy Economics, Elsevier, vol. 20(5-6), pages 599-620, December.
  26. Alan Manne & Richard Richels, 1995. "The Greenhouse Debate: Econonmic Efficiency, Burden Sharing and Hedging Strategies," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 1-38.
  27. Kanudia, Amit & Loulou, Richard, 1998. "Robust responses to climate change via stochastic MARKAL: The case of Quebec," European Journal of Operational Research, Elsevier, vol. 106(1), pages 15-30, April.
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