Extensions and alternatives to climate change impact valuation: on the critique of IPCC Working Group III's impact estimates
- 1 February 1998
- journal article
- policy options
- Published by Cambridge University Press (CUP) in Environment and Development Economics
- Vol. 3 (1) , 59-81
- https://doi.org/10.1017/s1355770x98000047
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.Keywords
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