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Global warming, irreversibility and learning

Record type: Article

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.

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Citation

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).

More information

Published date: 1997
Organisations: Economics

Identifiers

Local EPrints ID: 33050
URI: http://eprints.soton.ac.uk/id/eprint/33050
ISSN: 0013-0133
PURE UUID: 03ff16ba-79bd-439d-8946-f4fc98f89fb0

Catalogue record

Date deposited: 21 Dec 2006
Last modified: 17 Jul 2017 15:54

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Contributors

Author: Alistair Ulph
Author: David Ulph

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