Uncertain climate thresholds and optimal economic growth
We explore the combined effects of a climate threshold (a potential ocean thermohaline circulation collapse), parameter uncertainty, and learning in an optimal economic growth model. Our analysis shows that significantly reducing carbon dioxide ðCO2Þ emissions may be justified to avoid or delay even...
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ftciteseerx:oai:CiteSeerX.psu:10.1.1.78.7205 2023-05-15T17:31:10+02:00 Uncertain climate thresholds and optimal economic growth Klaus Keller Benjamin M. Bolker David F. Bradford C The Pennsylvania State University CiteSeerX Archives 2004 application/pdf http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.78.7205 http://www.geosc.psu.edu/~kkeller/Keller_et_al_JEEM_2004.pdf en eng http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.78.7205 http://www.geosc.psu.edu/~kkeller/Keller_et_al_JEEM_2004.pdf Metadata may be used without restrictions as long as the oai identifier remains attached to it. http://www.geosc.psu.edu/~kkeller/Keller_et_al_JEEM_2004.pdf Climate policy Climate thresholds Abrupt climate change North Atlantic thermohaline circulation Optimal growth model Learning Uncertainty text 2004 ftciteseerx 2016-01-08T19:12:44Z We explore the combined effects of a climate threshold (a potential ocean thermohaline circulation collapse), parameter uncertainty, and learning in an optimal economic growth model. Our analysis shows that significantly reducing carbon dioxide ðCO2Þ emissions may be justified to avoid or delay even small (and arguably realistic) damages from an uncertain and irreversible climate change—even when future learning about the system is considered. Parameter uncertainty about the threshold specific damages and the CO2 level triggering a threshold can act to decrease near-term CO2 abatements that maximize expected utility. Text North Atlantic North atlantic Thermohaline circulation Unknown |
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ftciteseerx |
language |
English |
topic |
Climate policy Climate thresholds Abrupt climate change North Atlantic thermohaline circulation Optimal growth model Learning Uncertainty |
spellingShingle |
Climate policy Climate thresholds Abrupt climate change North Atlantic thermohaline circulation Optimal growth model Learning Uncertainty Klaus Keller Benjamin M. Bolker David F. Bradford C Uncertain climate thresholds and optimal economic growth |
topic_facet |
Climate policy Climate thresholds Abrupt climate change North Atlantic thermohaline circulation Optimal growth model Learning Uncertainty |
description |
We explore the combined effects of a climate threshold (a potential ocean thermohaline circulation collapse), parameter uncertainty, and learning in an optimal economic growth model. Our analysis shows that significantly reducing carbon dioxide ðCO2Þ emissions may be justified to avoid or delay even small (and arguably realistic) damages from an uncertain and irreversible climate change—even when future learning about the system is considered. Parameter uncertainty about the threshold specific damages and the CO2 level triggering a threshold can act to decrease near-term CO2 abatements that maximize expected utility. |
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The Pennsylvania State University CiteSeerX Archives |
format |
Text |
author |
Klaus Keller Benjamin M. Bolker David F. Bradford C |
author_facet |
Klaus Keller Benjamin M. Bolker David F. Bradford C |
author_sort |
Klaus Keller |
title |
Uncertain climate thresholds and optimal economic growth |
title_short |
Uncertain climate thresholds and optimal economic growth |
title_full |
Uncertain climate thresholds and optimal economic growth |
title_fullStr |
Uncertain climate thresholds and optimal economic growth |
title_full_unstemmed |
Uncertain climate thresholds and optimal economic growth |
title_sort |
uncertain climate thresholds and optimal economic growth |
publishDate |
2004 |
url |
http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.78.7205 http://www.geosc.psu.edu/~kkeller/Keller_et_al_JEEM_2004.pdf |
genre |
North Atlantic North atlantic Thermohaline circulation |
genre_facet |
North Atlantic North atlantic Thermohaline circulation |
op_source |
http://www.geosc.psu.edu/~kkeller/Keller_et_al_JEEM_2004.pdf |
op_relation |
http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.78.7205 http://www.geosc.psu.edu/~kkeller/Keller_et_al_JEEM_2004.pdf |
op_rights |
Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
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1766128537380585472 |