Prudence on solar climate engineering

Climate Policy, Prudence, and the Role of Technological Innovation

We study the importance for climate policy of uncertainty concerning the gravity of climate change and thus the benefits of abatement. In particular, this uncertainty can have different effects on the benefits of early abatement and R&D. We explore these differences, which depend in large part on the curvature of the marginal abatement cost function—prudence, in other words. With convex margina...

On misleading solar-climate relationship

Introduction Conclusions References

On multivariate prudence

In this paper we extend the theory of precautionary saving to the case in which uncertainty is multidimensional and we develop a matrix-measure of multivariate prudence. Furthermore, we characterize comparative prudence, decreasing and increasing prudence, the e¤ect of uncertainty on the marginal propensity to consume out of wealth, and the Drèze-Modigliani substitution e¤ect in this multivaria...

On solar geoengineering and climate uncertainty

Uncertain climate system response has been raised as a concern regarding solar geoengineering. We explore the effects of geoengineering on one source of climate system uncertainty by evaluating the intermodel spread across 12 climate models participating in the Geoengineering Model Intercomparison project. The model spread in simulations of climate change and the model spread in the response to...

Solar Influence on Climate: Cosmic Rays