All pages with keywords: DICE models

A Nobel Prize for the creator of an economic model that underestimates the risks of climate change

a commentary by Bob Ward 2 January, 2019

The 2018 Nobel Prize for Economics has focused a spotlight on the ongoing controversy surrounding estimates of the potential impacts of climate change. On 8 October, The Royal Swedish Academy … read more »


Grantham Seminar | Climate Change Around the World

Seminar 19 Oct 2015

Per Krusell, Professor of Economics at Stockholm University and Visiting Professor in the Department of Economics at the London School of Economics, will be the speaker for this seminar. In this … read more »


Endogenous growth, convexity of damages and climate risk: how Nordhaus’ framework supports deep cuts in carbon emissions

Endogenous growth, convexity of damages and climate risk: how Nordhaus’ framework supports deep cuts in carbon emissions

a research article by Simon Dietz, Nicholas Stern 23 March, 2015

‘To slow or not to slow’ (Nordhaus, 1991) was the first economic appraisal of greenhouse gas emissions abatement and founded a large literature on a topic of worldwide importance. We offer our assessment of the original article and trace its legacy, in particular Nordhaus’s later series of ‘DICE’ models. From this work, many have drawn the conclusion that an efficient global emissions abatement policy comprises modest and modestly increasing controls. We use DICE itself to provide an initial illustration that, if the analysis is extended to take more strongly into account three essential elements of the climate problem – the endogeneity of growth, the convexity of damage and climate risk – optimal policy comprises strong controls. read more »


Climate change will ‘cost world far more than estimated’

Climate change will ‘cost world far more than estimated’

in the news Nicholas Stern, Simon Dietz 16 June, 2014

Lord Stern says current models do not adequately reflect the science and the impact on global economies The Independent


Copyright University Corporation for Atmospheric Research licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License

New economic model shows risks from climate change are bigger than previously estimated

Press release 16 June, 2014

A new version of a standard economic model shows that the risks from unchecked climate change are bigger than previously estimated and strengthens the case for strong cuts in greenhouse … read more »


Copyright University Corporation for Atmospheric Research licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License

Endogenous growth, convexity of damages and climate risk: how Nordhaus’ framework supports deep cuts in carbon emissions

a working paper by Simon Dietz, Nicholas Stern 16 June, 2014

Endogenous growth, convexity of damages and climate risk: how Nordhaus’ framework supports deep cuts in carbon emissions read more »


Scientific ambiguity and climate policy

Scientific ambiguity and climate policy

a research article by Antony Millner, Simon Dietz 21 May, 2013

Environmental and Resource Economics. Economic evaluation of climate policy traditionally treats uncertainty by appealing to expected utility theory. read more »