, Volume 119, Issue 3-4, pp 993-1006
Date: 24 Oct 2012

Reexamining the economics of aerosol geoengineering

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Abstract

In this paper, we extend the work of Goes, Tuana, and Keller (Climatic Change 2011; GTK) by reexamining the economic benefit, of aerosol geoengineering. GTK found that a complete substitution of geoengineering for CO2 abatement fails a cost-benefit test over a wide range of scenarios regarding (i) the probability that such a program would be aborted and (ii) the economic damages caused by geoengineering itself. In this paper, we reframe the conditions under which GTK assumed geoengineering would/could be used. In so doing, we demonstrate that geoengineering may pass a cost-benefit test over a wide range of scenarios originally considered by GTK.