Working Papers in Economics, Department of Economics, University of Bergen
Climate Engineering: Cost benefit and beyond
() and Sigve Tjøtta
Abstract: International efforts on abating climate change, focusing
on reductions of greenhouse gas emissions, have thus far proved
unsuccessful. This motivates exploration of other strategies such as
climate engineering. We modify the Dynamic Integrated model of Climate and
the Economy (DICE), and use it in a cost-benefit analysis of climate
engineering specifically deposition of sulphur in the stratosphere. The
model simulations show that climate engineering passes a cost-benefit test.
The cost of postponing climate engineering by 20-30 years is relatively
low. Going beyond these standard cost-benefit analyses, climate engineering
may still fail. Voters may dislike the idea of climate engineering; they do
not like the idea of tampering with nature, and their dislike stands
independent of outcomes of cost-benefit analyses.
Keywords: Climate change; climate engineering; cost-benefit analyses; public choice.; (follow links to similar papers)
JEL-Codes: Q54; Q58; (follow links to similar papers)
25 pages, September 1, 2010
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