Informing Climate Policy Given Incommensurable Benefits Estimates
Name
MITJPSPGC_Rpt107.pdf
Size
246.77 KB
Format
Adobe PDF
Checksum (MD5)
2250f823641ea643ac51839fcaf1a652
Author(s)
Jacoby, Henry D.
Date Issued
February 2004
Publisher
MIT Joint Program on the Science and Policy of Global Change
Citation
Report no. 107
Series/Report no.
Report no. 107;
Abstract
The determination of long-term goals for climate policy, or of near-term mitigation effort, requires a shared conception among nations of what is at stake. Unfortunately, because of different attitudes to risk, problems of valuing non-market effects, and disagreements about aggregation across rich and poor nations, no single benefit measure is possible that can provide commonly accepted basis for judgment. In response to this circumstance, a portfolio of estimates is recommended, including global variables that can be represented in probabilistic terms, regional impacts expressed in natural units, and integrated monetary valuation. Development of such a portfolio is a research task, and the needed program of work suggested.
Description
Abstract in HTML and technical report in PDF available on the Massachusetts Institute of Technology Joint Program on the Science and Policy of Global Change website (http://mit.edu/globalchange/www/).
Subjects
climate policy
benefit estimation
uncertainty
non-monetary valuation
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