Global warming, irreversibility and learning

Ulph, Alistair and Ulph, David (1997) Global warming, irreversibility and learning The Economic Journal, 107, (442), pp. 636-650. (doi:10.1111/1468-0297.00181).


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A number of economists have argued that the literature on the irreversibility effect implies that current abatement of greenhouse gas emissions should be greater when there is the possibility of obtaining better information in the future about the potential damages from global warming than when there is no possibility of obtaining better information. In this paper we show that even the simplest model of global warming does not satisfy either of Epstein's (1980) sufficient conditions, so it is not possible to use Epstein's analysis to tell whether the irreversibility effect applies to models of global warming. We derive an alternative sufficient condition for the irreversibility effect to hold.

Item Type: Article
Digital Object Identifier (DOI): doi:10.1111/1468-0297.00181
ISSNs: 0013-0133 (print)
ePrint ID: 33050
Date :
Date Event
Date Deposited: 21 Dec 2006
Last Modified: 16 Apr 2017 22:18
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