Arbeitspapier
Risk Aversion, time preference, and the social cost of carbon
The Stern Review reported a social cost of carbon of over $300/tC, calling for ambitious climate policy. We here conduct a systematic sensitivity analysis of this result on two crucial parameters: the rate of pure time preference, and the rate of risk aversion. We show that the social cost of carbon lies anywhere in between 0 and $120,000/tC. However, if we restrict these two parameters to match observed behavior, an expected social cost of carbon of $60/tC results. If we correct this estimate for income differences across the world, the social cost of carbon rises to over $200/tC.
- Sprache
-
Englisch
- Erschienen in
-
Series: ESRI Working Paper ; No. 252
- Klassifikation
-
Wirtschaft
- Thema
-
Klimaschutz
Luftverunreinigung
Kohlendioxid
Soziale Kosten
Zeitpräferenz
Risikoaversion
OECD-Staaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Anthoff, David
Tol, Richard S. J.
Yohe, Gary W.
- Ereignis
-
Veröffentlichung
- (wer)
-
The Economic and Social Research Institute (ESRI)
- (wo)
-
Dublin
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Anthoff, David
- Tol, Richard S. J.
- Yohe, Gary W.
- The Economic and Social Research Institute (ESRI)
Entstanden
- 2008
Ähnliche Objekte (12)
The social cost of carbon
The Social Cost of Carbon: Trends, Outliers and Catastrophes
The Social Cost of Carbon: Trends, Outliers and Catastrophes
Measuring international inequality aversion
Equitable cost-benefit analysis of climate change
The impact of a carbon tax on international tourism
A cost-benefit analysis of the EU 20/20/2020 package
Carbon tax: Still the best way forward for climate policy
The uncertainty about the social cost of carbon: A decomposition analysis using FUND
Greener homes: An ex-post estimate of the cost of carbon dioxide emission reduction using administrative micro-data from the republic of Ireland
Scenarios of carbon dioxide emissions from aviation
Airline emissions of carbon dioxide in the European trading system
The social cost of carbon
The Social Cost of Carbon: Trends, Outliers and Catastrophes
The Social Cost of Carbon: Trends, Outliers and Catastrophes
Measuring international inequality aversion
Equitable cost-benefit analysis of climate change
The impact of a carbon tax on international tourism
A cost-benefit analysis of the EU 20/20/2020 package
Carbon tax: Still the best way forward for climate policy
The uncertainty about the social cost of carbon: A decomposition analysis using FUND
Greener homes: An ex-post estimate of the cost of carbon dioxide emission reduction using administrative micro-data from the republic of Ireland
Scenarios of carbon dioxide emissions from aviation
Airline emissions of carbon dioxide in the European trading system
The social cost of carbon
The Social Cost of Carbon: Trends, Outliers and Catastrophes
The Social Cost of Carbon: Trends, Outliers and Catastrophes
Measuring international inequality aversion
Equitable cost-benefit analysis of climate change
The impact of a carbon tax on international tourism
A cost-benefit analysis of the EU 20/20/2020 package
Carbon tax: Still the best way forward for climate policy
The uncertainty about the social cost of carbon: A decomposition analysis using FUND
Greener homes: An ex-post estimate of the cost of carbon dioxide emission reduction using administrative micro-data from the republic of Ireland
Scenarios of carbon dioxide emissions from aviation