Exploring aggregate economic damage functions due to climate change

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A number of issues need to be considered when developing aggregated economic damage functions due to climate change. These include: (i) identification of production processes vulnerable to climate change, (ii) an understanding of the mechanism of vulnerability, (iii) the rate of technological advance and diffusion (iv) the issue of detection of damages and availability of response options. In this paper we will explore the implications of these considerations with the aid of an illustrative model. The findings suggest that there is a significant upward bias in damage functions calculated without consideration of these issues. Furthermore, this systematic bias is larger ... continued below

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13 p.

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Dowlatabadi, H.; Kandlikar, M. & Patwardhan, A. December 31, 1994.

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Description

A number of issues need to be considered when developing aggregated economic damage functions due to climate change. These include: (i) identification of production processes vulnerable to climate change, (ii) an understanding of the mechanism of vulnerability, (iii) the rate of technological advance and diffusion (iv) the issue of detection of damages and availability of response options. In this paper we will explore the implications of these considerations with the aid of an illustrative model. The findings suggest that there is a significant upward bias in damage functions calculated without consideration of these issues. Furthermore, this systematic bias is larger as climate change increases. We believe the approach explored here is a more suitable model for adoption in future integrated assessments of climate change.

Physical Description

13 p.

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OSTI as DE97005241

Medium: P; Size: 13 p.

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  • International conference on global climate change: science, policy and mitigation strategies, Phoenix, AZ (United States), 5-8 Apr 1994

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  • Other: DE97005241
  • Report No.: CONF-940426--4
  • Grant Number: FG02-94ER61916
  • Office of Scientific & Technical Information Report Number: 471411
  • Archival Resource Key: ark:/67531/metadc679821

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Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

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  • December 31, 1994

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  • July 25, 2015, 2:21 a.m.

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  • Oct. 3, 2017, 6:41 p.m.

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Dowlatabadi, H.; Kandlikar, M. & Patwardhan, A. Exploring aggregate economic damage functions due to climate change, article, December 31, 1994; United States. (digital.library.unt.edu/ark:/67531/metadc679821/: accessed December 12, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.