The social cost of carbon : ethics and the limits of climate change economics / J. Paul Kelleher.

Format:

Book

Author/Creator:

Kelleher, J. Paul, author.

Series:

Philosophy, politics, and economics.

Oxford scholarship online.

Philosophy, politics, and economics

Oxford scholarship online

Language:

English

Subjects (All):

Environmental policy.

Economic policy.

Climatic changes--Economic aspects.

Climatic changes.

Physical Description:

1 online resource (308 pages)

Edition:

1st ed.

Place of Publication:

New York, NY : Oxford University Press, [2025]

Summary:

The social cost of carbon (SCC) is a monetary measure of the lasting harm caused by emitting one additional ton of carbon dioxide into the atmosphere. By examining the foundations and limitations of the concept, the book evaluates the role and usefulness of the SCC in climate policy discussions.

Contents:

Cover

Half Title

Title Page

Copyright Page

Dedication

Contents

Foreword

Preface

Acknowledgments

Part I Economics

1 Integrated Assessment and Policy Optimization: A Brief Introduction

1.1 Constrained Optimization

1.2 Beyond the Surface Logic of Objective Functions

2 The Social Cost of Carbon in Social Choice Climate Economics

2.1 Social Welfare Functions and Optimal Growth Theory

2.2 Two Crucial Background Assumptions

2.3 The SCC in the Social Choice Framework

2.4 An Alternative (but Equivalent) SCC Formula

2.5 Incorporating Intratemporal Consumption Inequality

2.6 The Relevance of Financing

2.7 Optimal Social Choice SCCs

3 The Social Cost of Carbon in General Equilibrium Climate Economics

3.1 Two Types of Optimization

3.2 Pareto Efficiency

3.3 The Two Welfare Theorems

3.4 Utility Functions

3.5 Aggregating Utilities in a General Equilibrium Framework

3.6 Pareto Weights

3.7 Negishi's Method

3.8 Public Goods

3.9 Externalities

3.10 The Lindahl-Pigou Pricing Scheme

3.11 Negishi's Method and Pareto-Improving Climate Policy

3.12 Optimal General Equilibrium SCCs

3.13 The Ramsey-Koopmans-Cass Model

3.14 An Overlapping Generations Model

3.15 Baseline General Equilibrium SCCs

Part II Philosophy

4 A Foundation for (Discounted) Utilitarian Social Welfare Functions

4.1 Koopmans's Axiomatic Utilitarianism

4.2 The Trouble with Infinite Paths

4.3 Harsanyi's Axiomatic Utilitarianism

4.3.1 Harsanyi's Aggregation Theorem

4.3.2 Interpersonal Comparisons of Well- being

4.3.3 Same- Number Aggregation

4.3.4 Same- Lifetime Aggregation

4.3.5 Complete Aggregation

5 Normative Abridgement and Pure Time Discounting

5.1 The Concept and Possibility of Normative Abridgement

5.2 Examples of Normative Abridgement.

5.3 Interlude: Harsanyi's Impartial Observer Argument

5.4 Normative Abridgement and Pure Time Discounting

5.5 Should SWFs Be Temporally Impartial and Normatively Abridged?

5.6 Normative Abridgement and Evaluative Humility

6 Distribution

6.1 Axiomatic Prioritarianism

6.2 Prioritarianism under Risk

7 Population

7.1 The Zero Level of Lifetime Well-being

7.2 Population Ethics

7.3 Population Ethics and Normative Abridgement

Appendix: Deriving Critical-Level Utilitarianism

Part III Policy Analysis

8 The Social Cost of Carbon in Applied Climate Change Policy Analysis

8.1 Summary

8.2 Climate Change Cost-Benefit Analysis

8.2.1 The Interagency Working Group and the EPA

8.2.2 Biden's Executive Order and OMB's New Circular A- 4

8.2.3 The Peer Reviewers Strike Back

8.2.4 Discounting, Revisited

8.2.5 The Future of Federal SCCs in the United States

8.3 Carbon Taxes and Climate Targets

References

Index.

Notes:

Includes bibliographical references and index.

Description based on online resource and publisher information; title from PDF title page (viewed on January 6, 2025).

ISBN:

0-19-768782-2

0-19-768780-6

OCLC:

1482973676