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/lp/university-of-chicago-press/nondogmatic-climate-policy-9Xe8cUPJ6p
- Publisher
- University of Chicago Press
- Copyright
- © 2022 The Association of Environmental and Resource Economists. All rights reserved.
- ISSN
- 2333-5955
- eISSN
- 2333-5963
- DOI
- 10.1086/719237
- Publisher site
- See Article on Publisher Site
Abstract
Disagreements about normative aspects of social time preferences have led to estimates of the social cost of carbon (SCC) that differ by orders of magnitude. We investigate how disagreements about the SCC change if planners are nondogmatic, that is, they admit the possibility of a change in their normative views and internalize the preferences of future selves. Although nondogmatic planners may disagree about all the contentious aspects of social time preferences, disagreements about the SCC reduce dramatically. Admitting the possibility of a change in views once every 40 years results in a fivefold reduction in the range of recommended SCCs.
Journal
Journal of the Association of Environmental and Resource Economists – University of Chicago Press
Published: Jul 1, 2022