The University of Dublin | Trinity College -- Ollscoil Átha Cliath | Coláiste na Tríonóide
Trinity's Access to Research Archive
Home :: Log In :: Submit :: Alerts ::

TARA >
School of Social Science and Philosophy >
Economics >
Economics (Scholarly Publications) >

Please use this identifier to cite or link to this item: http://hdl.handle.net/2262/57635

Title: Checking the Price Tag on Catastrophe: The Social Cost of Carbon Under Non-linear Climate Response
Author: TOL, RICHARD S. J.
Author's Homepage: http://people.tcd.ie/tolr
Keywords: Climate Change
Economics
non-linearity
catastrophe
Issue Date: 29-Jun-2011
Publisher: ESRI
Citation: Ceronsky, Megan; Anthoff, David; Hepburn, Cameron; Tol, Richard S. J., Checking the Price Tag on Catastrophe: The Social Cost of Carbon Under Non-linear Climate Response, 2011
Series/Report no.: ESRI Working Paper;392
Abstract: Research into the social cost of carbon emissions — the marginal social damage from a tonne of emitted carbon — has tended to focus on “best guess” scenarios. Such scenarios generally ignore the potential for low-probability, high-damage events, which are critically important to determining optimal climate policy. This paper uses the FUND integrated assessment model to investigate the influence of three types of low-probability, high-impact climate responses on the social cost of carbon: the collapse of the Atlantic Ocean Meridional Overturning Circulation; large scale dissociation of oceanic methane hydrates; and climate sensitivities above “best guess” levels. We find that incorporating these events can increase the social cost of carbon by a factor of over 3.
Description: PUBLISHED
URI: http://hdl.handle.net/2262/57635
Appears in Collections:Economics (Scholarly Publications)

Files in This Item:

File Description SizeFormat
WP392.pdfPre-print (author's copy) - Non-Peer Reviewed801.29 kBAdobe PDFView/Open


This item is protected by original copyright


Please note: There is a known bug in some browsers that causes an error when a user tries to view large pdf file within the browser window. If you receive the message "The file is damaged and could not be repaired", please try one of the solutions linked below based on the browser you are using.

Items in TARA are protected by copyright, with all rights reserved, unless otherwise indicated.

 

Valid XHTML 1.0! DSpace Software Copyright © 2002-2010  Duraspace - Feedback