Modeling Uncertainty and the Economics of Climate Change: Recommendations for Robust Energy Policy
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Economic analysis of climate change has become a fundamental instrument for the multidisciplinary research of this global environmental challenge and is increasingly used for informing the ongoing discussion between climate scientists and policy makers. Much progress has been achieved in climate change economics over the past decade, which has led to the refinement of “integrated assessment models” and the development of other approaches that permit analyses of the multiple dimensions of climate change, either individually or jointly. Of particular relevance in this context are cost-benefit and cost-effectiveness analyses. The formulation of climate policy is increasingly becoming reliant on the adequacy of economic analysis, yet many of its aspects are left poorly understood. Both the scientific and policy-making communities therefore agree that economic studies of climate change ought to be perfected.
Among the subjects that deserve further in-depth investigation, the issue of...
KeywordsModeling Uncertainty Climate change Energy policy
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