G2TT
来源类型Working Paper
规范类型论文
Robust Control in Global Warming Management: An Analytical Dynamic Integrated Assessment
Magnus Hennlock
发表日期2009-05-04
出版年2009
页码DP 09-19
语种英语
摘要Imperfect measurement of uncertainty (deeper uncertainty) in climate sensitivity is introduced in a two-sectoral integrated assessment model (IAM) with endogenous growth, based on an extension of DICE. The household expresses ambiguity aversion and can use robust control via a 'shadow ambiguity premium' on social carbon cost to identify robust climate policy feedback rules that work well over a range such as the IPCC climate sensitivity range (IPCC, 2007a). Ambiguity aversion, in combination with linear damage, increases carbon cost in a similar way as a low pure rate of time preference. However, ambiguity aversion in combination with non-linear damage would also make policy more responsive to changes in climate data observations. Perfect ambiguity aversion results in an infinite expected shadow carbon cost and a zero carbon consumption path. Dynamic programming identifies an analytically tractable solution to the IAM.
主题Environmental Economics Topics ; Risk and Uncertainty ; Climate Change
子主题Carbon Tax ; Uncertainty
URLhttp://www.rff.org/research/publications/robust-control-global-warming-management-analytical-dynamic-integrated
来源智库Resources for the Future (United States)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/40997
推荐引用方式
GB/T 7714
Magnus Hennlock. Robust Control in Global Warming Management: An Analytical Dynamic Integrated Assessment. 2009.
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