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Tol, Richard S J (2005) The marginal damage costs of carbon dioxide emissions: An assessment of the uncertainties. Energy Policy, 33 (16). pp. 2064-2074. ISSN 0301-4215
Full text not available from this repository.Abstract
One hundred and three estimates of the marginal damage costs of carbon dioxide emissions were gathered from 28 published studies and combined to form a probability density function. The uncertainty is strongly right-skewed. If all studies are combined, the mode is $2/tC, the median $14/tC, the mean $93/tC, and the 95 percentile $350/tC. Studies with a lower discount rate have higher estimates and much greater uncertainties. Similarly, studies that use equity weighing, have higher estimates and larger uncertainties. Interestingly, studies that are peer-reviewed have lower estimates and smaller uncertainties. Using standard assumptions about discounting and aggregation, the marginal damage costs of carbon dioxide emissions are unlikely to exceed $50/tC, and probably much smaller.
| Item Type: | Article |
|---|---|
| Schools and Departments: | School of Business, Management and Economics > Economics |
| Subjects: | G Geography. Anthropology. Recreation > GE Environmental Sciences > GE170 Environmental policy H Social Sciences > HB Economic theory. Demography |
| Related URLs: | |
| Depositing User: | Richard Tol |
| Date Deposited: | 18 Apr 2012 08:18 |
| Last Modified: | 18 Apr 2012 08:18 |
| URI: | http://srodev.sussex.ac.uk/id/eprint/38344 |