{"id":1178,"date":"2021-02-23T10:35:49","date_gmt":"2021-02-23T09:35:49","guid":{"rendered":"http:\/\/gclab.rwth-aachen.de\/?p=1178"},"modified":"2023-05-02T15:17:04","modified_gmt":"2023-05-02T13:17:04","slug":"assessing-the-social-cost-of-carbon","status":"publish","type":"post","link":"https:\/\/gclab.rwth-aachen.de\/?p=1178","title":{"rendered":"Assessing the Social Cost of Carbon"},"content":{"rendered":"[vc_row type=&#8220;full_width_background&#8220; full_screen_row_position=&#8220;middle&#8220; column_margin=&#8220;default&#8220; column_direction=&#8220;default&#8220; column_direction_tablet=&#8220;default&#8220; column_direction_phone=&#8220;default&#8220; bg_image=&#8220;1911&#8243; bg_position=&#8220;left top&#8220; bg_repeat=&#8220;no-repeat&#8220; full_height=&#8220;yes&#8220; scene_position=&#8220;center&#8220; translate_y=&#8220;-300&#8243; text_color=&#8220;light&#8220; text_align=&#8220;left&#8220; row_border_radius=&#8220;none&#8220; row_border_radius_applies=&#8220;bg&#8220; color_overlay=&#8220;#000000&#8243; overlay_strength=&#8220;0.3&#8243; gradient_direction=&#8220;left_to_right&#8220; shape_divider_position=&#8220;bottom&#8220; bg_image_animation=&#8220;none&#8220; parallax_bg=&#8220;true&#8220; parallax_bg_speed=&#8220;fast&#8220; shape_type=&#8220;&#8220;][vc_column column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; top_margin=&#8220;100&#8243; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/1&#8243; tablet_width_inherit=&#8220;default&#8220; tablet_text_alignment=&#8220;default&#8220; phone_text_alignment=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220; enable_animation=&#8220;true&#8220; animation=&#8220;fade-in&#8220;][vc_row_inner equal_height=&#8220;yes&#8220; content_placement=&#8220;middle&#8220; column_margin=&#8220;default&#8220; column_direction=&#8220;default&#8220; column_direction_tablet=&#8220;default&#8220; column_direction_phone=&#8220;default&#8220; top_padding=&#8220;15%&#8220; bottom_padding=&#8220;14%&#8220; text_align=&#8220;left&#8220;][vc_column_inner column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/1&#8243; tablet_width_inherit=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220; offset=&#8220;vc_col-xs-12&#8243;][nectar_highlighted_text color_type=&#8220;regular&#8220; highlight_color=&#8220;#b4b4b4&#8243; style=&#8220;half_text&#8220;]\n<h1>Assessing the <em>Social Cost of Carbon<\/em><\/h1>\n[\/nectar_highlighted_text][divider line_type=&#8220;No Line&#8220;][\/vc_column_inner][\/vc_row_inner][divider line_type=&#8220;No Line&#8220;][\/vc_column][\/vc_row][vc_row type=&#8220;in_container&#8220; full_screen_row_position=&#8220;middle&#8220; column_margin=&#8220;default&#8220; column_direction=&#8220;default&#8220; column_direction_tablet=&#8220;default&#8220; column_direction_phone=&#8220;default&#8220; scene_position=&#8220;center&#8220; text_color=&#8220;dark&#8220; text_align=&#8220;left&#8220; row_border_radius=&#8220;none&#8220; row_border_radius_applies=&#8220;bg&#8220; overlay_strength=&#8220;0.3&#8243; gradient_direction=&#8220;left_to_right&#8220; shape_divider_position=&#8220;bottom&#8220; bg_image_animation=&#8220;none&#8220;][vc_column column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; top_margin=&#8220;-200&#8243; centered_text=&#8220;true&#8220; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/1&#8243; tablet_width_inherit=&#8220;default&#8220; tablet_text_alignment=&#8220;default&#8220; phone_text_alignment=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220;][vc_row_inner column_margin=&#8220;default&#8220; column_direction=&#8220;default&#8220; column_direction_tablet=&#8220;default&#8220; column_direction_phone=&#8220;default&#8220; text_align=&#8220;left&#8220;][vc_column_inner column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/1&#8243; tablet_width_inherit=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220;][vc_column_text]\n<p style=\"text-align: left;\">To assess the social cost of carbon for climate policies, the Dynamic Stochastic Integration of Climate and Economy (DSICE) model was developed. Its framework for stochastic integrated assessment of climate policies is based on the pioneering DICE integrated assessment model by William Nordhaus. DSICE computes the social cost of carbon in the presence of multi-layered risks, including climate tipping points, ecosystem risk and long-run risks to economic growth. DSICE has been developed by Yongyang Cai, Kenneth L. Judd and Thomas S. Lontzek.<\/p>\n<p><script src=\"moz-extension:\/\/54b34909-e45e-44eb-8fdc-c37e73e789d6\/js\/app.js\" type=\"text\/javascript\"><\/script>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][divider line_type=&#8220;No Line&#8220;][divider line_type=&#8220;No Line&#8220;][heading]papers[\/heading][vc_row_inner column_margin=&#8220;default&#8220; column_direction=&#8220;default&#8220; column_direction_tablet=&#8220;default&#8220; column_direction_phone=&#8220;default&#8220; text_align=&#8220;left&#8220;][vc_column_inner column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/1&#8243; tablet_width_inherit=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220;][vc_column_text]\n<h3 style=\"text-align: center;\"><strong>\u201cThe Social Cost of Carbon When We Wish for Full-Path Robustness\u201d<\/strong><\/h3>\n<p style=\"text-align: center;\">Management Science 2023<\/p>\n<p><script src=\"moz-extension:\/\/5dfb131c-82a9-4185-87a2-7e9a3696779f\/js\/app.js\" type=\"text\/javascript\"><\/script>[\/vc_column_text][nectar_btn size=&#8220;small&#8220; constrain_group_2=&#8220;yes&#8220; open_new_tab=&#8220;true&#8220; button_style=&#8220;regular&#8220; button_color_2=&#8220;Accent-Color&#8220; color_override=&#8220;#444444&#8243; icon_family=&#8220;none&#8220; text=&#8220;Link&#8220; margin_left=&#8220;100%&#8220; margin_right=&#8220;100%&#8220; url=&#8220;https:\/\/pubsonline.informs.org\/doi\/10.1287\/mnsc.2023.4736&#8243;][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=&#8220;default&#8220; column_direction=&#8220;default&#8220; column_direction_tablet=&#8220;default&#8220; column_direction_phone=&#8220;default&#8220; text_align=&#8220;left&#8220;][vc_column_inner column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/2&#8243; tablet_width_inherit=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220;][vc_column_text]\n<h3 style=\"text-align: center;\"><strong>\u201cThe Social Cost of Carbon with Economic and Climate Risks\u201d<\/strong><\/h3>\n<p style=\"text-align: center;\"><em>Journal of Political Economy <\/em>2019<\/p>\n<p><script src=\"moz-extension:\/\/5dfb131c-82a9-4185-87a2-7e9a3696779f\/js\/app.js\" type=\"text\/javascript\"><\/script>[\/vc_column_text][nectar_btn size=&#8220;small&#8220; constrain_group_2=&#8220;yes&#8220; open_new_tab=&#8220;true&#8220; button_style=&#8220;regular&#8220; button_color_2=&#8220;Accent-Color&#8220; color_override=&#8220;#444444&#8243; icon_family=&#8220;none&#8220; text=&#8220;Link&#8220; margin_left=&#8220;100%&#8220; margin_right=&#8220;100%&#8220; url=&#8220;https:\/\/www.journals.uchicago.edu\/doi\/10.1086\/701890&#8243;][\/vc_column_inner][vc_column_inner column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/2&#8243; tablet_width_inherit=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220;][vc_column_text]\n<h3 style=\"text-align: center;\"><strong>\u201cRisk of Multiple Interacting Tipping Points Should Encourage Rapid CO2 Emission Reduction\u201d<\/strong><\/h3>\n<p style=\"text-align: center;\"><em>Nature Climate Change <\/em>2016<\/p>\n<p><script src=\"moz-extension:\/\/5dfb131c-82a9-4185-87a2-7e9a3696779f\/js\/app.js\" type=\"text\/javascript\"><\/script>[\/vc_column_text][nectar_btn size=&#8220;small&#8220; constrain_group_2=&#8220;yes&#8220; open_new_tab=&#8220;true&#8220; button_style=&#8220;regular&#8220; button_color_2=&#8220;Accent-Color&#8220; color_override=&#8220;##444444&#8243; icon_family=&#8220;none&#8220; text=&#8220;Link&#8220; margin_left=&#8220;100%&#8220; margin_right=&#8220;100%&#8220; url=&#8220;https:\/\/www.nature.com\/articles\/nclimate2964&#8243;][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=&#8220;default&#8220; column_direction=&#8220;default&#8220; column_direction_tablet=&#8220;default&#8220; column_direction_phone=&#8220;default&#8220; text_align=&#8220;left&#8220;][vc_column_inner column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/2&#8243; tablet_width_inherit=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220;][vc_column_text]\n<h3 style=\"text-align: center;\"><strong>\u201dStochastic Integrated Assessment of Climate Tipping Points Calls for Strict Climate Policy\u201d<\/strong><\/h3>\n<p style=\"text-align: center;\"><em>Nature Climate Change<\/em> 2015<\/p>\n<p><script src=\"moz-extension:\/\/5dfb131c-82a9-4185-87a2-7e9a3696779f\/js\/app.js\" type=\"text\/javascript\"><\/script>[\/vc_column_text][nectar_btn size=&#8220;small&#8220; constrain_group_2=&#8220;yes&#8220; open_new_tab=&#8220;true&#8220; button_style=&#8220;regular&#8220; button_color_2=&#8220;Accent-Color&#8220; color_override=&#8220;##444444&#8243; icon_family=&#8220;none&#8220; text=&#8220;Link&#8220; margin_left=&#8220;100%&#8220; margin_right=&#8220;100%&#8220; url=&#8220;https:\/\/www.nature.com\/articles\/nclimate2570?page=2&#8243;][\/vc_column_inner][vc_column_inner column_padding=&#8220;no-extra-padding&#8220; column_padding_tablet=&#8220;inherit&#8220; column_padding_phone=&#8220;inherit&#8220; column_padding_position=&#8220;all&#8220; background_color_opacity=&#8220;1&#8243; background_hover_color_opacity=&#8220;1&#8243; column_shadow=&#8220;none&#8220; column_border_radius=&#8220;none&#8220; column_link_target=&#8220;_self&#8220; gradient_direction=&#8220;left_to_right&#8220; overlay_strength=&#8220;0.3&#8243; width=&#8220;1\/2&#8243; tablet_width_inherit=&#8220;default&#8220; column_border_width=&#8220;none&#8220; column_border_style=&#8220;solid&#8220; bg_image_animation=&#8220;none&#8220;][vc_column_text]\n<h3 style=\"text-align: center;\"><strong>\u201dEnvironmental tipping points significantly affect cost-benefit assessment of climate policies\u201d<\/strong><\/h3>\n<p style=\"text-align: center;\"><em>Proceedings of the National Academy of Sciences of the United States of America (PNAS)<\/em> 2015<\/p>\n<p><script src=\"moz-extension:\/\/5dfb131c-82a9-4185-87a2-7e9a3696779f\/js\/app.js\" type=\"text\/javascript\"><\/script>[\/vc_column_text][nectar_btn size=&#8220;small&#8220; constrain_group_2=&#8220;yes&#8220; open_new_tab=&#8220;true&#8220; button_style=&#8220;regular&#8220; button_color_2=&#8220;Accent-Color&#8220; color_override=&#8220;##444444&#8243; icon_family=&#8220;none&#8220; text=&#8220;Link&#8220; margin_left=&#8220;100%&#8220; margin_right=&#8220;100%&#8220; url=&#8220;https:\/\/www.pnas.org\/content\/112\/15\/4606&#8243;][\/vc_column_inner][\/vc_row_inner][divider line_type=&#8220;No Line&#8220;][heading]this project addresses[\/heading][vc_row_inner column_margin=&#8220;default&#8220; 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