TY  - JOUR
CY  - Londres
ID  - publications24148
UR  - http://tse-fr.eu/pub/31774
A1  - Adler, Matthew
A1  - Anthoff, David
A1  - Bosetti, Valentina
A1  - Garner, Greg
A1  - Keller, Klaus
A1  - Treich, Nicolas
Y1  - 2017/05/22/
N2  - 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.
PB  - Nature Publishing Group
JF  - Nature Climate Change
VL  - 7
SN  - 1758-678X
TI  - Priority for the worse-off and the social cost of carbon
SP  - 443
AV  - none
EP  - 449
ER  -