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The marginal damage costs of carbon dioxide emissions: an assessment of the uncertainties
Open accessAbstract
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.
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Cited by
Nelson, E., Mendoza, G., Regetz, J., Polasky, S., Tallis, H., Cameron, D., Chan, K. M., Daily, G. C., Goldstein, J., Kareiva, P. M., et al. (2009) · Frontiers in Ecology and the Environment · doi:10.1890/080023 · Cited by 2,389
Stern Review on the Economics of Climate Change (2006)
Stern, N. (2017) · Making Climate Change History · doi:10.1515/9780295741406-058 · Cited by 1,380
Bektaş, T., & Laporte, G. (2011) · Transportation Research Part B: Methodological · doi:10.1016/j.trb.2011.02.004 · Cited by 1,219
Dong, K., Hochman, G., Zhang, Y., Sun, R., Li, H., & Liao, H. (2018) · Energy Economics · doi:10.1016/j.eneco.2018.08.017 · Cited by 700
Tallis, H., & Polasky, S. (2009) · Annals of the New York Academy of Sciences · doi:10.1111/j.1749-6632.2009.04152.x · Cited by 616
Metadata
- Authors
- Tol, R. S. J.
- Venue
- Energy Policy
- Publisher
- Elsevier BV
- Published
- 2005-11
- Volume
- 33
- Issue
- 16
- Pages
- 2064-2074
- ISSN
- 0301-4215 (ISSN-L)
- OpenAlex
- W2773365185
- Cited by
- 911
- References
- 0
- FWCI
- 122.48
- Type
- journal article
- Language
- en
- Open access
- green
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