@article{publications24148,
          volume = {7},
           month = {May},
          author = {Matthew Adler and David Anthoff and Valentina Bosetti and Greg Garner and Klaus Keller and Nicolas Treich},
         address = {Londres},
           title = {Priority for the worse-off and the social cost of carbon},
       publisher = {Nature Publishing Group},
            year = {2017},
         journal = {Nature Climate Change},
           pages = {443--449},
             url = {https://publications.ut-capitole.fr/id/eprint/24148/},
        abstract = {The social cost of carbon (SCC) is a key tool in climate policy. The SCC expresses in monetary terms the social impact of the emission of a ton of CO2 in a given year. The SCC is calculated using a ?social welfare function? (SWF): a method for assessing social welfare. The dominant SWF in climate policy is the discounted-utilitarian SWF. Individuals? well-being numbers (utilities) are summed, and the values for later generations are reduced (?discounted?). This SWF has been criticized for ignoring the distribution of well-being and including an arbitrary time preference. Here, we use a ?prioritarian? SWF, with no time discount, to calculate the SCC. This SWF gives extra weight (?priority?) to worse-off individuals. Prioritarianism is a well-developed concept in ethics and welfare economics, but has been rarely used in climate scholarship. We find substantial differences between the discounted-utilitarian and non-discounted prioritarian SCCs.}
}