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Extensions and alternatives to climate change impact valuation: on the critique of IPCC Working Group III's impact estimates

Published online by Cambridge University Press:  01 February 1998

SAMUEL FANKHAUSER
Affiliation:
Centre for Social and Economic Research on the Global Environment (CSERGE), University College London, Gower Street, London WC1E 6BT and University of East Anglia, UK
RICHARD S.J. TOL
Affiliation:
Institute for Environmental Studies, Vrije Universiteit, De Boelelaan 1115, 1081 HV Amsterdam, The Netherlands
DAVID W. PEARCE
Affiliation:
Centre for Social and Economic Research on the Global Environment (CSERGE), University College London, Gower Street, London WC1E 6BT and University of East Anglia, UK

Abstract

The paper discusses valuation issues in the context of climate change impact estimation. Issues addressed are aggregation of damage costs over diverse regions (particularly equity-weighting), differentiation of per-unit values, willingness to pay versus willingness to accept compensation as a basis for valuation, and accountability for impacts. Numerical illustrations show that the damage cost estimates are quite sensitive to the assumptions made on these issues.

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Policy Options
Copyright
© 1998 Cambridge University Press

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