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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collection.link.5
https://openknowledge.worldbank.org/handle/10986/9
collection.name.5
Policy Research Working Papers
dc.contributor.author
Dumas, P.
dc.contributor.author
Hourcade, J. C.
dc.contributor.author
Fabert, B. Perrissin
dc.date.accessioned
2012-03-19T18:41:23Z
dc.date.available
2012-03-19T18:41:23Z
dc.date.issued
2010-07-01
dc.date.lastModified
2021-04-23T14:02:13Z
dc.description.abstract
This 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.identifier
http://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.uri
http://hdl.handle.net/10986/3876
dc.language
English
dc.relation.ispartofseries
Policy Research working paper ; no. WPS 5392
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ABATEMENT COST
dc.subject
ABATEMENT COSTS
dc.subject
ABATEMENT POLICIES
dc.subject
ANTHROPOGENIC GREENHOUSE
dc.subject
ANTHROPOGENIC GREENHOUSE EFFECT
dc.subject
ASSESSMENT OF CLIMATE CHANGE
dc.subject
ASSESSMENT OF CLIMATE CHANGE IMPACTS
dc.subject
ATMOSPHERE
dc.subject
ATMOSPHERIC CONCENTRATION
dc.subject
ATMOSPHERIC CONCENTRATIONS
dc.subject
BASELINE EMISSIONS
dc.subject
BIOSPHERE
dc.subject
CAPITAL STOCKS
dc.subject
CAPITAL TURNOVER
dc.subject
CARBON
dc.subject
CARBON CYCLE
dc.subject
CARBON DYNAMICS
dc.subject
CARBON EMISSIONS
dc.subject
CARBON FLOWS
dc.subject
CARBON INTENSITY
dc.subject
CARBON PRICES
dc.subject
CARBON SAVING TECHNOLOGIES
dc.subject
CARBON-CYCLE MODEL
dc.subject
CATASTROPHIC CLIMATE CHANGE
dc.subject
CATASTROPHIC DAMAGES
dc.subject
CLIMATE
dc.subject
CLIMATE CHANGE
dc.subject
CLIMATE CHANGE DAMAGE
dc.subject
CLIMATE CHANGE DAMAGES
dc.subject
CLIMATE CHANGE IMPACTS
dc.subject
CLIMATE DAMAGE
dc.subject
CLIMATE MITIGATION
dc.subject
CLIMATE MODEL
dc.subject
CLIMATE MODELS
dc.subject
CLIMATE POLICIES
dc.subject
CLIMATE SCENARIOS
dc.subject
CLIMATE SENSITIVITY
dc.subject
CLIMATE SYSTEM
dc.subject
CLIMATE VARIABILITY
dc.subject
CLIMATIC CHANGE
dc.subject
CO2
dc.subject
COST OF ABATEMENT
dc.subject
COST OF CLIMATE CHANGE
dc.subject
COST-BENEFIT
dc.subject
COST-BENEFIT ANALYSIS
dc.subject
COST-BENEFIT FRAMEWORK
dc.subject
DEEP OCEAN
dc.subject
DEFORESTATION
dc.subject
DEVELOPMENT ECONOMICS
dc.subject
DISCOUNT FACTOR
dc.subject
DISCOUNT RATE
dc.subject
DISCOUNT RATES
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC MODELS
dc.subject
ECONOMICS OF CLIMATE CHANGE
dc.subject
ECOSYSTEM
dc.subject
EMISSION
dc.subject
EMISSION ABATEMENT
dc.subject
EMISSIONS ABATEMENT
dc.subject
EMISSIONS PATHWAYS
dc.subject
ENVIRONMENTAL RISKS
dc.subject
EXTREME VALUES
dc.subject
GHG
dc.subject
GHGS
dc.subject
GLOBAL MEAN TEMPERATURE
dc.subject
GLOBAL MEAN TEMPERATURE VARIATION
dc.subject
GLOBAL TEMPERATURE
dc.subject
GLOBAL WARMING
dc.subject
IMPACTS OF CLIMATE CHANGE
dc.subject
INCREASE IN TEMPERATURE
dc.subject
INTEREST RATE
dc.subject
INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE
dc.subject
INTERNATIONAL CLIMATE NEGOTIATIONS
dc.subject
IPCC
dc.subject
LAND-USE CHANGE
dc.subject
LEVEL OF EMISSIONS
dc.subject
MONETARY VALUES
dc.subject
PROBABILITY DISTRIBUTION
dc.subject
RADIATIVE FORCING
dc.subject
RAPID CLIMATE CHANGE
dc.subject
RESERVOIRS
dc.subject
SCENARIOS
dc.subject
SOCIAL DIMENSIONS OF CLIMATE CHANGE
dc.subject
SURFACE OCEAN
dc.subject
TEMPERATURE
dc.subject
TEMPERATURE INCREASE
dc.subject
TEMPERATURE RANGE
dc.subject
TEMPERATURE RISES
dc.subject
TEMPERATURE THRESHOLDS
dc.subject
TEMPERATURES
dc.subject
UTILITY FUNCTION
dc.subject
VALUE OF CLIMATE SENSITIVITY
dc.subject
WELFARE FUNCTION
dc.title
Do We Need A Zero Pure Time Preference or the Risk of Climate Catastrophes to Justify A 2°C Global Warming Target?
en
okr.date.disclosure
2010-07-30
okr.doctype
Publications & Research :: Policy Research Working Paper
okr.docurl
http://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.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/1813-9450-5392
okr.identifier.externaldocumentum
000158349_20100730104858
okr.identifier.internaldocumentum
12601323
okr.identifier.report
WPS5392
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/07/30/000158349_20100730104858/Rendered/PDF/WPS5392.pdf
en
okr.region.administrative
The World Region
okr.region.administrative
The World Region
okr.unit
Development Research Group (DECRG)
okr.volume
1 of 1

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