Pushing the boundaries of climate economics: Critical issues to consider in climate policy analysis

Ecological Economics

Volumn 85, Issue , 2013, Pages 155-165

  Scrieciu, S Şerban ^a   Barker, Terry ^a   Ackerman, Frank ^b  

^a UNIVERSITY OF CAMBRIDGE   (United Kingdom)

^b STOCKHOLM ENVIRONMENT INSTITUTE   (United States)

Author keywords

Climate policy and technological change; Institutional barriers; Multi dimensional valuation; New approaches to climate economics; Risk and uncertainty

Indexed keywords

ACADEMIC RESEARCH; CLIMATE CHANGE; COST-BENEFIT ANALYSIS; ECONOMIC ANALYSIS; ECONOMIC DEVELOPMENT; ENVIRONMENTAL ECONOMICS; ENVIRONMENTAL POLICY; POLICY ANALYSIS; TECHNOLOGICAL CHANGE; TRADITIONAL KNOWLEDGE;

EID: 84872376989     PISSN: 09218009     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ecolecon.2011.10.016     Document Type: Article

References (107)

1. Ackerman F. Climate economics in four easy pieces. Development (Cambridge, England) 2008, 51(3):325-331.
2. Ackerman F. Can We Afford the Future? Economics for a Warming World 2009, Zed Books, London.
3. Ackerman F., Heinzerling L. Priceless: On Knowing the Price of Everything and the Value of Nothing 2004, The New Press, New York.
4. Ackerman F., Stanton E.A., DeCanio S.J., Goodstein E., Howarth R.B., Nordgaard R.B., Norman C.S., Sheeran K.A. The Economics of 350: The Benefits and Costs of Climate Stabilization. Economics for Equity and Environment. E3 report, Portland OR, United States 2009, http://sei-us.org/Publications_PDF/SEI-E3-Econ350BenefitsCostsClimateStabilization-09.pdf.
5. Adger N.W. Social capital, collective action and adaptation to climate change. Economic Geography 2003, 79(4):387-404.
6. Adger N.W., Huq S., Brown K., Conway D.And, Hulme M. Adaptation to climate change in the developing world. Progress in Development Studies 2003, 3(3):179-195.
7. Barker T. The economics of avoiding dangerous climate change. An editorial essay on The Stern Review. Climatic Change 2008, 89(3-4):173-194.
8. Barker T., de-Ramon S.A. Testing the representative agent assumption: the distribution of parameters in a large-scale model of the EU 1972-1998. Applied Economics Letters 2006, 13(6):395-398.
9. Barker T., Scrieciu S.Ş. Modelling low stabilization with E3MG: towards a 'new economics' approach to simulating energy-environment-economy system dynamics. The Energy Journal 2010, 31:137-164. (Special Issue on "The Economics of Low Stabilization").
10. Barker T., Pan H., Köhler J., Warren R., Winne S. Decarbonizing the global economy with induced technological change: scenarios to 2100 using E3MG. The Energy Journal 2006, 27:241-258. (Special Issue on "Endogenous Technological Change and the Economics of Atmospheric Stabilisation").
11. Barker T., Bashmakov I., Alharthi A., Amann M., Cifuentes L., Drexhage J., Duan M., Edenhofer O., Flannery B., Grubb M., Hoogwijk M., Ibitoye F.I., Jepma C.J., Pizer W.A., Yamaji K. Mitigation from a cross-sectoral perspective. Climate Change 2007: Mitigation. Contribution of Working Group III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change 2007, 619-690. (chapter 8 in), Cambridge University Press, Cambridge, UK & New York, NY. B. Metz, O.R. Davidson, P.R. Bosch, R. Dave, L.A. Meyer (Eds.).
12. Barker T., Foxon T., Scrieciu S.Ş. Achieving the G8 50% target: modelling induced and accelerated technological change using the macro-econometric model E3MG. Climate Policy 2008, 8:S30-S45. (Special Issue on 'Modelling long-term scenarios for low-carbon societies').
13. Barreteau O., Le Page C., D'Aquino P. Role-playing games, models and negotiation processes. Journal of Artificial Societies and Social Simulation 2003, 6(2). (url: URL:). http://jasss.soc.surrey.ac.uk/6/2/10.html.
14. Bergman N., Haxeltine A., Whitmarsh L., Köhler J., Schilperoord M., Rotmans J. Modelling socio-technical transition patterns and pathways. Journal of Artificial Societies and Social Simulation 2008, 11.
15. Making the Commons Work: Theory, Practice, and Policy 1992, ICS Press, San Francisco. D.W. Bromley, D. Feeny, M. McKean, P. Peters, J. Gilles, R. Oakerson, C.F. Runge, J. Thomson (Eds.).
16. Broome J. Discounting the future. Philosophy and Public Affairs 1994, 23(2):128-156.
17. Broome J. The ethics of climate change. Scientific American 2008, 97-102. (June).
18. Carr M.-E., Anderson R.F., Brash K. Climate Change: Addressing the Major Skeptic Arguments", report prepared for DB Climate Change Advisors, Deutsche Bank Group 2010, (September).
19. Carter R.M. Climate: The Counter-Consensus 2010, Stacey International, London.
20. Chalabi Z., Kovats S. Reducing human health impacts and risks. Contribution to the UNEP's initiative MCA4climate: A Practical Framework for Planning Pro-Development Climate Policies 2011, Energy Branch, Division of Technology, Industry and Economics, United Nations Environment Programme, Paris. http://www.mca4climate.info.
21. Cioffi-Revilla C., Luke S., Rogers J.D., Schopf P., Trimble J. Agent-based modelling of climate change, ecosystems, and security: a research programme", paper prepared for the 250th Anniversary Conference on "Climate Change and Security. The Royal Norwegian Society of Sciences and Letters, Trondheim, Norway, 21-24 June 2010 2010.
22. Clarke L., Weyant J., Edmonds J. On the sources of technological change: what do the models assume?. Energy Economics 2008, 30:409-424.
23. Cline W.R. The Economics of Global Warming 1992, Institute for International Economics, Washington DC.
24. Coase R.H. The institutional structure of production. The American Economic Review 1992, 82(4):713-719.
25. Colander D., Holt R., Rosser B. The changing face of mainstream economics. Review of Political Economy 2004, 16(4):485-499.
26. Costello A., Abbas M., Allen A., Ball S., Bell S., Bellamy R., Friel S., Groce N., Johnson A., Kett M., Lee M., Levy C., Maslin M., McCoy D., McGuire B., Montgomery H., Napier D., Pagel C., Patel J., de Oliveira J.A.P., Redclift N., Rees H., Rogger D., Scott J., Stephenson J., Twigg J., Wolff J., Patterson C. Managing the health effects of climate change. Lancet 2009, 373:1693-1733. (Lancet and University College London Institute for Global Health Commission).
27. Daneshkhah A.R. Uncertainty in Probability Risk Assessment: A Review 2004, BEEP Working Paper: Bayesian Elicitation of Experts' Probabilities, Sheffield, UK: University of Sheffield.
28. Dequech D. Neoclassical, mainstream, orthodox, and heterodox economics. Journal of Post Keynesian Economics 2008, 30(2):279-302.
29. Dietz S., Stern N. Why economic analysis supports strong action on climate change: a response to the Stern review's critics. Review of Environmental Economics and Policy 2008, 2(1):94-113.
30. Ek K., Soderholm P. Technology learning in the presence of public R&D: the case of European wind power. Ecological Economics 2010, 69(12):2356-2362.
31. Fischer C., Newell R.G. Environmental and technology policies for climate mitigation. Journal of Environmental Economics and Management 2008, 55(2):142-162.
32. Furubotn E.G., Richter R. Institutions and Economic Theory: The Contribution of the New Institutional Economics 1997, The University of Michigan Press, Ann Arbor, MI.
33. Gerlagh R. A climate-change policy induced shift from innovations in carbon-energy production to carbon-energy savings. Energy Economics 2008, 30:425-448.
34. 2 emissions: carbon capture or renewables, taxes or subsidies?. The Energy Journal 2006, 27:25-48.
35. Gillingham K., Newell R.G., Pizer W.A. Modeling endogenous technological change for climate policy analysis. Energy Economics 2008, 30(6):2734-2753.
36. Haites E. Investment and Financial Flows needed to Address Climate Change", Breaking the Climate Deadlock Briefing Paper 2008, The Climate Group, London.
37. Hallegatte S. Strategies to adapt to an uncertain climate change. Global Environmental Change 2009, 19(2):240-247.
38. 2: where should humanity aim?. The Open Atmospheric Science Journal 2008, 2:217-231.
39. Hayward T., Preston J. Chaos theory, economics and information: the implications for strategic decision-making. Journal of Information Science 1999, 25(3):173-182.
40. Heal G. Climate economics: a meta-review and some suggestions for future research. Review of Environmental Economics and Policy 2009, 3(1):4-21.
41. Hodgson G.M. Evolution and Institutions: On Evolutionary Economics and the Evolution of Economics 1999, Edward Elgar, Cheltenham, UK.
42. Hodgson G.M. What are institutions?. Journal of Economic Issues 2006, XL(1):2-4. (available online at). http://www.geoffrey-hodgson.info/user/bin/whatareinstitutions.pdf.
43. Howarth R.B. Discounting and uncertainty in climate change policy analysis. Land Economics 2003, 79(3):369-381.
44. IEA World Energy Outlook 2010, International Energy Agency, Paris.
45. IPCC Summary for Policymakers. Climate Change 2007: The Physical Science Basis. Contribution of Working Group I to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change 2007, Cambridge University Press, Cambridge, UK & New York, NY. S. Solomon, D. Qin, M. Manning, Z. Chen, M. Marquis, K.B. Averyt, M. Tignor, H.L. Miller (Eds.).
46. Iwaro J., Mwasha A. A review of building energy regulation and policy for energy conservation in developing countries. Energy Policy 2010, 38(12):7744-7755.
47. "Investments for a Climate-Friendly Germany", Study commissioned by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) 2008, Synthesis Report, Berlin, Germany, (June). J. Jochem, C. Jaeger (Eds.).
48. Jones L. Overcoming social barriers to adaptation", ODI Background Note 2010, Overseas Development Institute, London.
49. Kahn Ribeiro S., Kobayashi S., Beuthe M., Gasca J., Greene D., Lee D.S., Muromachi Y., Newton P.J., Plotkin S., Sperling D., Wit R., Zhou P.J. Transport and its infrastructure. Climate Change 2007: Mitigation. Contribution of Working Group III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change 2007, 323-385. (chapter 5 in), Cambridge University Press, Cambridge, UK & New York, NY. B. Metz, O.R. Davidson, P.R. Bosch, R. Dave, L.A. Meyer (Eds.).
50. Kahouli-Brahmi S. Technological learning in energy-environment-economy modelling: a survey. Energy Policy 2007, 36(1):138-162.
51. Kaufman B.E. The impossibility of a perfectly competitive labour market. Cambridge Journal of Economics 2007, 31(5):775-787.
52. Klaes M. The birth of the concept of transaction costs: issues and controversies. Industrial and Corporate Change 2000, 9(4):567-593.
53. Köhler J., Barker T., Anderson D., Pan H. Combining energy technology dynamics and macroeconometrics: the E3MG model. The Energy Journal 2006, 113-134. (vol. "Hybrid Modelling" (special issue 2)).
54. Köhler J., Wietschel M., Whitmarsh L., Keles D., Schade W. Infrastructure investment for a transition to hydrogen automobiles. Technological Forecasting and Social Change 2010, 77(8):1237-1248.
55. Lee J., Veloso F.M., Hounshell D.A., Rubin E.S. Forcing technological change: a case of automobile emissions control technology development in the US. Technovation 2010, 30(4):249-264.
56. Lempert R.J., Collins M.T. Managing the risk of uncertain threshold responses: comparison of robust, optimum, and precautionary approaches. Risk Analysis 2007, 27(4):1009-1026.
57. Levi M. Of rule and revenue 1988, University of California Press, Berkeley, CA.
58. Levine M., Ürge-Vorsatz D., Blok K., Geng L., Harvey D., Lang S., Levermore G., Mongameli Mehlwana A., Mirasgedis S., Novikova A., Rilling J., Yoshino H. Residential and commercial buildings. Climate Change 2007: Mitigation. Contribution of Working Group III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change 2007, 387-446. (chapter 6 in), Cambridge University Press, Cambridge, UK & New York, NY. B. Metz, O.R. Davidson, P.R. Bosch, R. Dave, L.A. Meyer (Eds.).
59. Lind M. Public Purpose Finance: Investing in America's Future with Regional Economic Development Banks. Economic Growth Program Policy Paper 2010, New America Foundation, Washington, DC, (September).
60. Lowe J. Intergenerational wealth transfers and social discounting: Supplementary Green Book guidance 2008, HM Treasury, UK Government, London, (online). http://www.hm-treasury.gov.uk/d/4%285%29.pdf.
61. Luke S., Cioffi-Revilla C., Panait L., Sullivan K. MASON: a Java multi-agent simulation environment. Simulation: Transactions of the Society for Modelling and Simulation International 2005, 81(7):517-527.
62. Lutz C., Meyer B., Wolter M.I. The global multisector/multicountry 3-E model GINFORS. A description of the model and a baseline forecast for global energy demand and CO2 emissions. International Journal of Global Environmental Issues 2010, 10(1-2):25-45.
63. Magné B., Kypreos S., Turton H. Technology options for low stabilization pathways with MERGE. Energy Journal 2010, 31:83-107. (Special Issue 1 on "The Economics of Low Stabilisation").
64. Marshall G.R. Nesting, subsidiarity, and community-based environmental governance beyond the local level. International Journal of the Commons 2008, 2(1):75-97.
65. McDonald A., Schrattenholzer L. Learning rates for energy technologies. Energy Policy 2001, 29(4):255-261.
66. McKean M.A. People and Forests: Communities, Institutions, and Governance 2000, MIT Press, Cambridge.
67. Meyer B. The Economic-Environmental model PANTA RHEI and its Application. GWS Discussion Paper Series 2005/3 2005, Institute of Economic Structures Research, Osnabrück.
68. Montford A.W. The Hockey Stick Illusion: Climategate and the Corruption of Science 2010, Stacey International, London.
69. Moss S. Alternative approaches to the empirical validation of agent-based models. Journal of Artificial Societies and Social Simulation 2008, 11(1). (url). http://jasss.soc.surrey.ac.uk/11/1/5.html.
70. Musole M. Property rights, transaction costs and institutional change: conceptual framework and literature review. Progress in Planning 2009, 71:43-85.
71. Neuhoff K., Fankhauser S., Guerin E., Hourcade J.-C., Jackson H., Rajan R., Ward J. Structuring international financial support to support domestic climate change mitigation in developing countries. Climate Strategies report, Cambridge, UK 2009.
72. Newell R.G. The role of markets and policies in delivering innovation for climate change mitigation. Oxford Review of Economic Policy 2010, 26(2):253-269.
73. Nordhaus W.D. Modeling Induced Innovation in Climate Change Policy. Modeling Induced Innovation in Climate Change Policy 2002, 259-290. (chapter 9 in), Resources for the Future Press, Washington, D.C. A. Grubler, N. Nakićenović, W.D. Nordhaus (Eds.).
74. Nordhaus W.D. A review of the stern review on the economics of climate change. Journal of Economic Literature 2007, 45:686-702.
75. Nordhaus W.D. A Question of Balance: Weighing the Options on Global Warming Policies 2008, Yale University Press, New Haven, CT.
76. NRTEE & SDTC "Geared for Change: Energy Efficiency in Canada's Commercial Building Sector", a report by National Round Table on the Environment and the Economy (NRTEE) and Sustainable Development Technology Canada (SDTC), Ottawa, Ontario, Canada 2009.
77. OECD/IEA Energy Efficiency Governance 2010, International Energy Agency, Paris, France.
78. Ostrom E. Governing the Commons: The Evolution of Institutions for Collective Action 1990, Cambridge University Press, Cambridge.
79. Ostrom E. Understanding Institutional Diversity 2005, Princeton University Press, Princeton NJ and Oxfordshire, UK.
80. Ostrom E. A polycentric approach for coping with climate change. Policy Research Working Paper 5095 (Background Paper to the 2010 World Development Report) 2009, The World Bank, Washington, DC.
81. Ostrom E., Gardner R., Walker J. Rules. Games, and Common-Pool Resources 1994, The University of Michigan Press, Ann Arbor. A. Agrawal, W. Blomquist, E. Schlager, S.Y. Tang (Eds.).
82. The Drama of the Commons 2002, National Academy Press, Committee on the Human Dimensions of Global Change, Washington DC. E. Ostrom, T. Dietz, N. Dolšak, P.C. Stern, S. Stonich, E.U. Weber (Eds.).
83. Patt A., Siebenhüner B. Agent-based modelling and adaptation to climate change. Vierteljahrshefte zur Wirtschaftsforschung 2005, 74(2):310-320.
84. Pfenninger S. Renewable electricity in the EU: the road to 2020. SEFEP paper, Berlin: Smart Energy for Europe Platform 2010.
85. Popp D., Newell R.G. Where does energy R&D come from? Examining crowding out from environmentally-friendly R&D. NBER Working Paper No. 15423 2009, National Bureau of Economic Research, Cambridge, MA.
86. Rahmstorf S. A semi-empirical approach to projecting future sea-level rise. Science 2007, 315:368-370.
87. Rayner S., Malone E.L. Climate change, poverty, and intragenerational equity: the national level. International Journal of Global Environmental Issues 2001, 1(2):175-202.
88. Rennie J. Seven Answers to Climate Contrarian Nonsense: Evidence for human inteference with Earth's climate continues to accumulate", Scientific American 2009, (November 30), (online). http://www.scientificamerican.com/article.cfm?id=seven-answers-to-climate-contrarian-nonsense.
89. Rosser J.B. On the complexities of complex economic dynamics. The Journal of Economic Perspectives 1999, 13(4):169-192.
90. Rotmans J., Kemp R., van Asselt M.B.A. More evolution than revolution: transition management in public policy. Foresight 2001, 3(1):15-31.
91. Schade W. Strategic Sustainability Analysis: Concept and application for the assessment of European Transport Policy 2005, NOMOS-Verlag, Baden-Baden, Germany.
92. Schilperoord M., Rotmans J., Bergman N. Modelling societal transitions with agent transformation. Computational & Mathematical Organization Theory 2008, 14(4):283-301.
93. Smit B., Wandel J. Adaptation, adaptive capacity and vulnerability. Global Environmental Change 2006, 16:282-292.
94. Smit B., Pilifosova O., Burton I., Challenger B., Huq S., Klein R.J.T., Yohe G. Adaptation to climate change in the context of sustainable development and equity. Climate Change 2001: Impacts, Adaptation and Vulnerability, Contribution of Working Group II to the Third Assessment Report of the Intergovernmental Panel on Climate Change 2001, 876-912. (chapter 18 in), Cambridge University Press, Cambridge. J.J. McCarthy, O.F. Canziani, N.A. Leary, D.J. Dokken, K.S. White (Eds.).
95. Stern N. The economics of climate change: The Stern Review 2007, Cambridge University Press, Cambridge.
96. UNEP MCA4climate: a practical framework for planning pro-development climate policies. MCA4climate brochure / UNEP document 2011, Energy Branch, The Division of Technology, Industry and Economics, United Nations Environment Programme, Paris. http://www.mca4climate.info.
97. UNEP New Climate Economics: Methodological choices and recommendations. Additional guidance supporting UNEP's MCA4climate initiative / UNEP document 2011, Energy Branch, The Division of Technology, Industry, and Economics, United Nations Environment Programme, Paris, (authored by F. Ackerman, with contributions from Z. Chalabi, R. Mechler and Ş. Scrieciu). http://www.mca4climate.info/_assets/files/New-Climate-Economics-Final-report(1).pdf.
98. UNEP-UNDP CC DARE: Climate Change and Development - Adapting by Reducing Vulnerability", a joint UNEP/UNDP programme for Sub-Saharan Africa (funded by the Danish Ministry of Foreign Affairs), Maiden Volume - January 2011.
99. UNFCCC Investment and Financial Flows to Address Climate Change 2007, United Nations Framework Convention on Climate Change, Bonn.
100. van Vuuren D.P., Hoogwijk M., Barker T., Riahi K., Boeters S., Chateau J., Scrieciu Ş., van Vliet J., Masui T., Blok K., Blomen E., Kram T. Comparison of top-down and bottom-up estimates of sectoral and regional greenhouse gas emission reduction potentials. Energy Policy 2009, 37(12):5125-5139.
101. Weiss M., Junginger M., Patel M.K., Blok K. A review of experience curve analyses for energy demand technologies. Technological Forecasting and Social Change 2010, 77:411-428.
102. Weitzman M.L. On modelling and interpreting the economics of catastrophic climate change. The Review of Economics and Statistics 2009, 91(1):1-19.
103. Wilby R.L., Dessai S. Robust adaptation to climate change. Weather 2010, 65(7):180-185.
104. Williamson O.E. The economics of organization: the transaction cost approach. The American Journal of Sociology 1981, 87(3):548-577.
105. Windrum P., Fagiolo G., Moneta A. Empirical validation of agent-based models: alternatives and prospects. Journal of Artificial Societies and Social Simulation 2007, 10(2). (url). http://jasss.soc.surrey.ac.uk/10/2/8.html.
106. World Bank Economics of adaptation to climate change: Synthesis report 2010, World Bank, Washington DC.
107. World Bank The cost to developing countries of adapting to climate change: new methods and estimates 2010, Consultation Draft, World Bank, Washington DC.