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| Author: | Anthoff, D. Tol, R.S.J. |
| Title: | On international equity weights and national decision making on climate change |
| Journal: | Journal of Environmental Economics and Management
2010 : JUL, VOL. 60:1, p. 14-20 |
| Index terms: | environmental economics climate policy social costs decision making |
| Freeterms: | climate change |
| Language: | eng |
| Abstract: | The aggregation of monetized impacts of climate change over people with different incomes and in different jurisdictions is required in order to estimate the marginal damage costs of carbon dioxide emissions. These estimates assume a social welfare function and thus a particular attitude towards equity and justice. Previous approaches to equity weighting are shown to be inappropriate from a national decision maker's point of view, because of domestic impacts not being valued at domestic values. Herein, proposed are four alternatives, that is, altruism, compensation, good neighbour, and sovereignty, with different views on concern for and liability towards foreigners. These alternatives imply radically different estimates of the social cost of carbon, and hence the optimal intensity of climate policy. |
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