Beyond the Stern Review: Lessons from a risky venture at the limits of the cost–benefit analysis

Hourcade Jean-Charles, Ambrosi Philippe, Dumas Patrice. 2009. Beyond the Stern Review: Lessons from a risky venture at the limits of the cost–benefit analysis. Ecological Economics, 68 (10) : pp. 2479-2484.

Journal article ; Article de revue à facteur d'impact
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Quartile : Q1, Sujet : ECONOMICS / Quartile : Q1, Sujet : ENVIRONMENTAL STUDIES / Quartile : Q2, Sujet : ENVIRONMENTAL SCIENCES / Quartile : Q2, Sujet : ECOLOGY

Liste HCERES des revues (en SHS) : oui

Thème(s) HCERES des revues (en SHS) : Economie-gestion

Abstract : This paper argues that debates amongst economists triggered by the Stern Review are partly relevant, focusing on key parameters translating real ethical issues, and partly misplaced in that they do not consider enough other determinants of climate change damages: i) the specifications of the utility function used for the assessments (preference for the environment, preference for smooth growth paths), ii) the interplay between uncertainty and the sequentiality of the decision, and iii) whether the growth engines behind the integrated assessment models can account for transient disequilibrium and sub-optimality. We derive some suggestions for any future research agenda in integrated assessment modelling, whatever the position of the analysts about the relevance of the intertemporal optimisation framework and the Bayesian approach to uncertainty in the climate affair. (Résumé d'auteur)

Mots-clés Agrovoc : Changement climatique, Évaluation de l'impact, Modèle, Modélisation environnementale, Analyse coût avantage, Impact sur l'environnement, Politique de l'environnement, Sociologie, Éthique, Analyse de système, Système de valeurs, Prise de décision, Théorie économique

Classification Agris : P01 - Nature conservation and land resources
P40 - Meteorology and climatology

Champ stratégique Cirad : Axe 6 (2005-2013) - Agriculture, environnement, nature et sociétés

Auteurs et affiliations

  • Hourcade Jean-Charles, CNRS (FRA)
  • Ambrosi Philippe, World Bank (USA)
  • Dumas Patrice, Université Pierre et Marie Curie (FRA) ORCID: 0000-0002-3896-7589

Source : Cirad-Agritrop (

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