Some Basic Economics of Climate Change

DSpace/Manakin Repository

Some Basic Economics of Climate Change

Citable link to this page


Title: Some Basic Economics of Climate Change
Author: Weitzman, Martin L.
Citation: Weitzman, Martin L. 2009. Some Basic Economics of Extreme Climate Change. In Changing Climate, Changing Economy, ed. Jean-Philippe Touffut. Northhampton, MA: Edward Elgar Publishing.
Full Text & Related Files:
Abstract: Climate change is characterized by deep structural uncertainty in the science cou- pled with an economic inability to evaluate meaningfully the welfare losses from high temperature changes. The probability of a disastrous collapse of planetary welfare from too much CO2 is non-negligible, even if this low probability is not objectively knowable. This paper attempts to explain (in not excessively technical language) some of the most basic issues in modeling the economics of catastrophic climate change. The paper builds to a tentative conclusion that, no matter what else is done realis- tically to slow CO2 buildups, economic analysis lends some support to undertaking serious research now into the prospects of ìfast geoengineering preparednessîñas a state-contingent emergency option o§ering at least the possibility of knocking down catastrophic temperatures rapidly.
Published Version:
Terms of Use: This article is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at
Citable link to this page:
Downloads of this work:

Show full Dublin Core record

This item appears in the following Collection(s)


Search DASH

Advanced Search