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The Economics of Mitigating Climate Change?

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  • Richard Rosen
  • Edeltraud Guenther

Abstract

Economic analyses of the long-term costs of mitigating climate change are unknowable, argue these authors. To base climate policy on them is irresponsible. However, the authors support the moral argument that it is necessary to control climate because its likely devastating effect on human civilization is reason enough to pursue climate mitigation policies. This technical paper is a valuable retort to economic oversimplifications prevalent in the climate change literature.

Suggested Citation

  • Richard Rosen & Edeltraud Guenther, 2014. "The Economics of Mitigating Climate Change?," Challenge, Taylor & Francis Journals, vol. 57(4), pages 57-81.
    • Handle: RePEc:mes:challe:v:57:y:2014:i:4:p:57-81
    DOI: 10.2753/0577-5132570405
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    References listed on IDEAS

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    1. Terry Barker and Katie Jenkins, 2007. "The Costs of Avoiding Dangerous Climate Change: Estimates Derived from a Meta-Analysis of the Literature," Human Development Occasional Papers (1992-2007) HDOCPA-2007-02, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
    2. Robert S. Pindyck, 2013. "Climate Change Policy: What Do the Models Tell Us?," Journal of Economic Literature, American Economic Association, vol. 51(3), pages 860-872, September.
    3. Detlef Vuuren & Jae Edmonds & Mikiko Kainuma & Keywan Riahi & Allison Thomson & Kathy Hibbard & George Hurtt & Tom Kram & Volker Krey & Jean-Francois Lamarque & Toshihiko Masui & Malte Meinshausen & N, 2011. "The representative concentration pathways: an overview," Climatic Change, Springer, vol. 109(1), pages 5-31, November.
    4. Ottmar Edenhofer , Brigitte Knopf, Terry Barker, Lavinia Baumstark, Elie Bellevrat, Bertrand Chateau, Patrick Criqui, Morna Isaac, Alban Kitous, Socrates Kypreos, Marian Leimbach, Kai Lessmann, Bertra, 2010. "The Economics of Low Stabilization: Model Comparison of Mitigation Strategies and Costs," The Energy Journal, International Association for Energy Economics, vol. 0(Special I).
    5. Nicholas Stern, 2013. "The Structure of Economic Modeling of the Potential Impacts of Climate Change: Grafting Gross Underestimation of Risk onto Already Narrow Science Models," Journal of Economic Literature, American Economic Association, vol. 51(3), pages 838-859, September.
    6. -, 2009. "The economics of climate change," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 38679, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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    Citations

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    Cited by:

    1. Rosen, Richard A., 2021. "Why the shared socioeconomic pathway framework has not been useful for improving climate change mitigation policy analysis," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    2. Charlie Wilson & Céline Guivarch & Elmar Kriegler & Bas Ruijven & Detlef P. Vuuren & Volker Krey & Valeria Jana Schwanitz & Erica L. Thompson, 2021. "Evaluating process-based integrated assessment models of climate change mitigation," Climatic Change, Springer, vol. 166(1), pages 1-22, May.
    3. Franziska Schütze & Steffen Fürst & Jahel Mielke & Gesine A. Steudle & Sarah Wolf & Carlo C. Jaeger, 2017. "The Role of Sustainable Investment in Climate Policy," Sustainability, MDPI, vol. 9(12), pages 1-19, December.
    4. Goldstein, Don, 2015. "Climate-adaptive technological change in a small region: A resource-based scenario approach," Technological Forecasting and Social Change, Elsevier, vol. 99(C), pages 168-180.
    5. Alexandre C. Köberle & Toon Vandyck & Celine Guivarch & Nick Macaluso & Valentina Bosetti & Ajay Gambhir & Massimo Tavoni & Joeri Rogelj, 2021. "The cost of mitigation revisited," Nature Climate Change, Nature, vol. 11(12), pages 1035-1045, December.
    6. Ajay Gambhir & Isabela Butnar & Pei-Hao Li & Pete Smith & Neil Strachan, 2019. "A Review of Criticisms of Integrated Assessment Models and Proposed Approaches to Address These, through the Lens of BECCS," Energies, MDPI, vol. 12(9), pages 1-21, May.
    7. Lempert Robert J., 2014. "Embedding (some) benefit-cost concepts into decision support processes with deep uncertainty," Journal of Benefit-Cost Analysis, De Gruyter, vol. 5(3), pages 487-514, December.
    8. F.H.J. Polzin & M.W.J.L. Sanders & Florian Täube, 2017. "A diverse and resilient financial system for investments in the energy transition," Working Papers 17-03, Utrecht School of Economics.

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