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Reexamining the economics of aerosol geoengineering |
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| Authors: | J Eric Bickel Shubham Agrawal |
| Institution: | 1. Graduate Program in Operations Research, The University of Texas at Austin, Austin, USA 3. Center for International Energy and Environmental Policy, Austin, USA 4. 1 University Station, C2200, Austin, TX, 78712, USA 2. Graduate Program in Energy and Earth Resources, The University of Texas at Austin, Austin, USA |
| Abstract: | In this paper, we extend the work of Goes, Tuana, and Keller (Climatic Change 2011; GTK) by reexamining the economic benefit, of aerosol geoengineering. GTK found that a complete substitution of geoengineering for CO2 abatement fails a cost-benefit test over a wide range of scenarios regarding (i) the probability that such a program would be aborted and (ii) the economic damages caused by geoengineering itself. In this paper, we reframe the conditions under which GTK assumed geoengineering would/could be used. In so doing, we demonstrate that geoengineering may pass a cost-benefit test over a wide range of scenarios originally considered by GTK. |
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