Munich Personal RePEc Archive

Cost-benefit Analysis of Climate Change: Stern Revisited

Baer, Paul and Spash, Clive L. (2008): Cost-benefit Analysis of Climate Change: Stern Revisited.

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Abstract

This paper explores the insurmountable challenges facing orthodox economic approaches to assessing climate control as if it were a matter of weighing-up the costs of money spent to benefits as the returns on an investment. Such am appraisal method borrows form project appraisal for financial investment and is inappropriate for addressing social costs. In appraising the recent approach to human induced climate change of to the UK Government report by Stern and colleagues serious flaws are noted that are equally applicable to other similar work by economists such as Nordhaus and Tol.

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