cost-benefit analyssis

Another Problem with Cost-Benefit Analysis of Climate Policy

It’s hard to estimate benefits. But it turns out costs are also uncertain.

It’s common knowledge— at least, among people who follow these things — that it is hard to estimate the benefits of a proposed climate policy.  But it’s actually quite difficult to estimate the costs as well. There are three major problems in estimating the benefits of  a proposed climate policy.  First, it’s hard to estimate …