Catastrophic Outcomes in the Economics of Climate Change |
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Authors: | Richard b Howarth |
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Institution: | (1) Environmental Studies Program, Dartmouth College, Hanover, New Hampshire, 03750, U.S.A. |
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Abstract: | Monte Carlo simulations by Tol (2003) suggest that there is a small but positive probability that climate change will impose catastrophic impacts on future society unless sufficient steps are taken to reduce greenhouse gas emissions. This paper critically evaluates this finding and its implications for policy analysis and decision-making. |
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