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Do We Need A Zero Pure Time Preference or the Risk of Climate Catastrophes to Justify A 2°C Global Warming Target?

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dc.contributor.authorDumas, P.
dc.contributor.authorHourcade, J. C.
dc.contributor.authorFabert, B. Perrissin
dc.date.accessioned2012-03-19T18:41:23Z
dc.date.available2012-03-19T18:41:23Z
dc.date.issued2010-07-01
dc.description.abstractThis paper confronts the wide political support for the 2C objective of global increase in temperature, reaffirmed in Copenhagen, with the consistent set of hypotheses on which it relies. It explains why neither an almost zero pure time preference nor concerns about catastrophic damages in case of uncontrolled global warming are prerequisites for policy decisions preserving the possibility of meeting a 2C target. It rests on an optimal stochastic control model balancing the costs and benefits of climate policies resolved sequentially in order to account for the arrival of new information (the RESPONSE model). This model describes the optimal abatement pathways for 2,304 worldviews, combining hypotheses about growth rates, baseline emissions, abatement costs, pure time preference, damages, and climate sensitivity. It shows that 26 percent of the worldviews selecting the 2C target are not characterized by one of the extreme assumptions about pure time preference or climate change damages.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100730104858
dc.identifier.doi10.1596/1813-9450-5392
dc.identifier.urihttps://hdl.handle.net/10986/3876
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5392
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABATEMENT COST
dc.subjectABATEMENT COSTS
dc.subjectABATEMENT POLICIES
dc.subjectANTHROPOGENIC GREENHOUSE
dc.subjectANTHROPOGENIC GREENHOUSE EFFECT
dc.subjectASSESSMENT OF CLIMATE CHANGE
dc.subjectASSESSMENT OF CLIMATE CHANGE IMPACTS
dc.subjectATMOSPHERE
dc.subjectATMOSPHERIC CONCENTRATION
dc.subjectATMOSPHERIC CONCENTRATIONS
dc.subjectBASELINE EMISSIONS
dc.subjectBIOSPHERE
dc.subjectCAPITAL STOCKS
dc.subjectCAPITAL TURNOVER
dc.subjectCARBON
dc.subjectCARBON CYCLE
dc.subjectCARBON DYNAMICS
dc.subjectCARBON EMISSIONS
dc.subjectCARBON FLOWS
dc.subjectCARBON INTENSITY
dc.subjectCARBON PRICES
dc.subjectCARBON SAVING TECHNOLOGIES
dc.subjectCARBON-CYCLE MODEL
dc.subjectCATASTROPHIC CLIMATE CHANGE
dc.subjectCATASTROPHIC DAMAGES
dc.subjectCLIMATE
dc.subjectCLIMATE CHANGE
dc.subjectCLIMATE CHANGE DAMAGE
dc.subjectCLIMATE CHANGE DAMAGES
dc.subjectCLIMATE CHANGE IMPACTS
dc.subjectCLIMATE DAMAGE
dc.subjectCLIMATE MITIGATION
dc.subjectCLIMATE MODEL
dc.subjectCLIMATE MODELS
dc.subjectCLIMATE POLICIES
dc.subjectCLIMATE SCENARIOS
dc.subjectCLIMATE SENSITIVITY
dc.subjectCLIMATE SYSTEM
dc.subjectCLIMATE VARIABILITY
dc.subjectCLIMATIC CHANGE
dc.subjectCO2
dc.subjectCOST OF ABATEMENT
dc.subjectCOST OF CLIMATE CHANGE
dc.subjectCOST-BENEFIT
dc.subjectCOST-BENEFIT ANALYSIS
dc.subjectCOST-BENEFIT FRAMEWORK
dc.subjectDEEP OCEAN
dc.subjectDEFORESTATION
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDISCOUNT FACTOR
dc.subjectDISCOUNT RATE
dc.subjectDISCOUNT RATES
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC MODELS
dc.subjectECONOMICS OF CLIMATE CHANGE
dc.subjectECOSYSTEM
dc.subjectEMISSION
dc.subjectEMISSION ABATEMENT
dc.subjectEMISSIONS ABATEMENT
dc.subjectEMISSIONS PATHWAYS
dc.subjectENVIRONMENTAL RISKS
dc.subjectEXTREME VALUES
dc.subjectGHG
dc.subjectGHGS
dc.subjectGLOBAL MEAN TEMPERATURE
dc.subjectGLOBAL MEAN TEMPERATURE VARIATION
dc.subjectGLOBAL TEMPERATURE
dc.subjectGLOBAL WARMING
dc.subjectIMPACTS OF CLIMATE CHANGE
dc.subjectINCREASE IN TEMPERATURE
dc.subjectINTEREST RATE
dc.subjectINTERGOVERNMENTAL PANEL ON CLIMATE CHANGE
dc.subjectINTERNATIONAL CLIMATE NEGOTIATIONS
dc.subjectIPCC
dc.subjectLAND-USE CHANGE
dc.subjectLEVEL OF EMISSIONS
dc.subjectMONETARY VALUES
dc.subjectPROBABILITY DISTRIBUTION
dc.subjectRADIATIVE FORCING
dc.subjectRAPID CLIMATE CHANGE
dc.subjectRESERVOIRS
dc.subjectSCENARIOS
dc.subjectSOCIAL DIMENSIONS OF CLIMATE CHANGE
dc.subjectSURFACE OCEAN
dc.subjectTEMPERATURE
dc.subjectTEMPERATURE INCREASE
dc.subjectTEMPERATURE RANGE
dc.subjectTEMPERATURE RISES
dc.subjectTEMPERATURE THRESHOLDS
dc.subjectTEMPERATURES
dc.subjectUTILITY FUNCTION
dc.subjectVALUE OF CLIMATE SENSITIVITY
dc.subjectWELFARE FUNCTION
dc.titleDo We Need A Zero Pure Time Preference or the Risk of Climate Catastrophes to Justify A 2°C Global Warming Target?en
dspace.entity.typePublication
okr.crossref.titleDo We Need A Zero Pure Time Preference Or The Risk Of Climate Catastrophes To Justify A 2C Global Warming Target ?
okr.date.disclosure2010-07-30
okr.date.doiregistration2025-04-10T11:44:23.820431Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100730104858
okr.guid473831468156265206
okr.identifier.doi10.1596/1813-9450-5392
okr.identifier.externaldocumentum000158349_20100730104858
okr.identifier.internaldocumentum12601323
okr.identifier.reportWPS5392
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/07/30/000158349_20100730104858/Rendered/PDF/WPS5392.pdfen
okr.region.administrativeThe World Region
okr.region.administrativeThe World Region
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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