Uncertainty in Integrated Assessment Models of Climate Change: Alternative Analytical Approaches
Uncertainty plays a key role in the economics of climate change, and research on this topic has led to a large body of literature. However, the discussion on the policy implications of uncertainty is still far from settled. Due to the complexity of the problem, an increasing number of analytical approaches have been used to examine the policy implications of uncertainty in integrated assessment models of climate change. We review these approaches, the corresponding literature and respective policy implications.