We analyze the role of ethical values in the determination of the social cost of carbon, arguing that the familiar debate about discounting is too narrow. Other ethical issues are equally important to computing the social cost of carbon, and we highlight inequality, risk, and population ethics. Although the usual approach, in the economics of cost-benefit analysis for climate policy, is confined to a utilitarian axiology, the methodology of the social cost (...) of carbon is rather flexible and can be expanded to a broader set of social-welfare approaches. [Open access]. (shrink)

In this paper I examine the relation between Social Cost of Carbon (SCC) estimates, abatement cost analyses, and individual climate duties. I first highlight the stakes that SCC and abatement cost estimates potentially have for the content of individual duties to either pay the full or fair cost of their carbon emissions, or offset the volume of their emissions. I survey four methodological options (a minimalist approach, a precautionary approach, an averaging approach, and (...) what I call a ‘sufficiency-bounded’ precautionary approach) for conceptualizing the terrain of individual duties in light of SCC and abatement cost estimates that are both contentious and evolving. (shrink)

The social cost of carbon (SCC) is a central concept in climate change economics. This chapter explains the SCC and investigates it philosophically. As is widely acknowledged, any SCC calculation requires the analyst to make choices about the infamous topic of discount rates. But to understand the nature and role of discounting, one must understand how that concept—and indeed the SCC concept itself—is yoked to the concept of a value function, whose job is to take ways the (...) world could be across indefinite timespans and to rank them from better to worse. A great deal, therefore, turns on the details of the value function and on just what is meant by “better” and “worse.” This chapter seeks to explicate these and related issues, and then to situate them within the evolving landscape of federal climate policy in the United States. (shrink)

At first glance, it may seem that climate policy based on estimates of the social cost of carbon (SCC) presupposes a set of controversial assumptions, especially about what detailed knowledge regulators have about the impacts of climate change, and what the proper role of government and policy is in responding to those impacts. However, I explain why the SCC-based approach need not actually have these problematic presuppositions as well as why SCC estimates may provide the best guide (...) to climate policy when implemented in a way that incorporates a healthy dose of humility. The SCC-based approach can be used in a way that is ecumenical between the wide range of reasonable but incompatible views about the proper goals of government and policy, ranging from views that aim only at market-efficiency, to utilitarian views, to rights-based and other deontological views, to libertarian views, to virtue ethics views, and others. Beyond this, I suggest that the SCC-based approach can help us find an overlapping consensus on a particular climate policy given the range of reasonable but incompatible normative views endorsed in diverse societies. Finally, I consider a number of specific objections to the SCC-based approach that are especially prominent in contemporary discourse and policy debates. I suggest that even if we agree that all of these objections to existing SCC-based analyses have an important kernel of truth, nonetheless the correct response to climate change still involves substantial emissions reductions to be achieved via policy, and the best methods for deciding the magnitude of those reductions still depend essentially on the SCC-based approach. (shrink)

This chapter examines two approaches to climate policy: expected utility calculations and a precautionary approach. The former provides the framework for attempts to calculate the social cost of carbon. The latter approach has provided the guiding principle for the United Nations Conference of Parties from the 1992 Rio Declaration to the Paris Agreement. The chapter argues that the deep uncertainties concerning the climate system and climate damages make the exercise of trying to calculate a well-supported value for (...) the SCC impossible. Moreover, cost-benefit analyses are blind to important moral dimensions of the climate problem. Yet it is an open question to what extent an alternative, precautionary approach can result in specific policy recommendations such as the temperature targets of the Paris agreement. (shrink)

[Comment] Donald Trump’s executive order on energy limits the costs and benefits of carbon to domestic sources. The argument for this executive order is that carbon policies should not be singled out from other policies as globally inclusive. Two independent arguments are offered for adopting a global social cost of carbon. The first is based on reinforcing norms in the face of commons tragedies. The second is based on the limitations of consequentialist analyses. We can (...) distinguish consequences for which probabilistic indifference is appropriate. The mechanisms for global effects for carbon are well-understood, whereas most policy effects are primarily domestic. [Open access]. (shrink)

Over the past few decades, we have improved our understanding of the health impacts of climate change.1 Although many public health researchers have contributed to this knowledge, relatively few are aware of how their work may relate to the social cost of carbon. The social cost of carbon is a core economic concept in climate policy and one that can—and should—benefit directly from research produced by the public health community. The concept’s importance was recently (...) highlighted by this past year’s Nobel Prize in Economic Sciences, which was awarded to William Nordhaus in part for his pioneering work developing models to estimate the social cost of carbon. Below we describe this concept, explain how it is calculated, and provide some brief guidance on how health research can improve its estimation. (shrink)

When imposing traffic congestion pricing around downtown commercial centers, there is a concern that commercial activities will have to consider relocating due to reduced demand, at a cost to merchants. Concerns like these were important in the debates before the introductions of congestion charges in both London and Stockholm and influenced the final policy design choices. This study introduces a sequential experimental game to study reactions to congestion pricing in the commercial sector. In the game, merchants first make location (...) choices. Consumers, who drive to do their shopping, subsequently choose where to shop. Initial responses to the introduction of congestion pricing and equilibrium selection adjustments over time are observed. These observations are compared to responses and adjustments in a condition where congestion pricing is reduced from an initially high level. Payoffs are non-linear and non-transparent, making it less than obvious that the efficient equilibrium will be selected, and introducing possibilities that participants need to discover their preferences and anchor on past experiences. We find that initial responses reflect standard inverse price–demand relations, and that adjustments over time rely on signaling by consumers leading to the efficient equilibrium. There is also evidence that priming from initial experiences influence play somewhat. We confirm that commercial activities relocate following the introduction of congestion pricing and that the adjustment process is costly to merchants. (shrink)

The logical flow graphs of sequent calculus proofs might contain oriented cycles. For the predicate calculus the elimination of cycles might be non-elementary and this was shown in [Car96]. For the propositional calculus, we prove that if a proof of k lines contains n cycles then there exists an acyclic proof with O(k n+l ) lines. In particular, there is a polynomial time algorithm which eliminates cycles from a proof. These results are motivated by the search for general methods on (...) proving lower bounds on proof size and by the design of more efficient heuristic algorithms for proof search. (shrink)

The ability to read emotions in faces helps humans efficiently assess social situations. We tested how this ability is affected by aspects of familiarization with face masks and personality, with a focus on emotional intelligence. To address aspects of the current pandemic situation, we used photos of not only faces per se but also of faces that were partially covered with face masks. The sample, the size of which was determined by an a priori power test, was recruited in (...) Germany and consisted of healthy individuals of different ages [M = 24.8 years]. Participants assessed the emotional expressions displayed by six different faces determined by a 2 × 3 design. Each person was presented with six different emotional displays with or without a face mask. Accuracy and confidence were lower with masks—in particular for the emotion disgust but also for happiness, anger, and sadness. When comparing the present data collected in July 2021 with data from a different sample collected in May 2020, when people first started to familiarize themselves with face masks in Western countries during the first wave of the COVID-19 pandemic, we did not detect an improvement in performance. There were no effects of participants’ emotional intelligence, sex, or age regarding their accuracy in assessing emotional states in faces for unmasked or masked faces. (shrink)

A revision of the author's thesis, Harvard University, 1967.

While corporate social responsibility is recognized as taking on various national meanings and practices, research has not sufficiently investigated how multinational companies simultaneously achieve global CSR integration and local CSR adaptation. Building on a qualitative case study carried out at ASICS, an MNC headquartered in Japan, we show how this organizational dilemma may be solved through hybridization work, a form of institutional work performed by CSR managers in subsidiaries to combine and adapt different institutional approaches to CSR. By developing (...) the notion of hybridization work, we contribute by revealing a set of practices that contribute to institutional change within organizations and enriching the study of CSR organizational change and international business by showing how hybridization Work leads to a greater organizational integration between core and periphery, and by identifying the triggering factors for subsidiary initiative in CSR. (shrink)

This paper reports on an experimental test of the Principle of Optimality in dynamic decision problems. This Principle, which states that the decision-maker should always choose the optimal decision at each stage of the decision problem, conditional on behaving optimally thereafter, underlies many theories of optimal dynamic decision making, but is normally difficult to test empirically without knowledge of the decision-maker's preference function. In the experiment reported here we use a new experimental procedure to get round this difficulty, which also (...) enables us to shed some light on the decision process that the decision-maker is using if he or she is not using the Principle of Optimality - which appears to be the case in our experiments. (shrink)

Assessments of animal experience and consciousness are embedded in all issues of animal welfare policy, and the field of animal welfare science has been developed to make these evaluations. In light of modern studies of the social construction of scientific knowledge, it is surprising how little attention has been paid to date on how crucial evaluations about animals are made. In this paper, I begin to fill that gap by presenting a historical case study of the attempt to define (...) the pain and distress of one common practice in animal research-the use of the tabletop guillotine to decapitate laboratory rodents. I describe the negotiations involved in reaching consensus on the meaning of the available data and caution animal care and use committees that they should always work with the realization that our scientific knowledge of what animals experience is partial and provisional knowledge at best. (shrink)

This paper focuses on the comparison of individual and group decision-making, in a stochastic inter-temporal problem in two decision environments, namely risk and ambiguity. Using a consumption/saving laboratory experiment, we investigate behaviour in four treatments: individual choice under risk; group choice under risk; individual choice under ambiguity and group choice under ambiguity. Comparing decisions within and between decision environments, we find an anti-symmetric pattern. While individuals are choosing on average closer to the theoretical optimal predictions, compared to groups in the (...) risk treatments, groups tend to deviate less under ambiguity. Within decision environments, individuals deviate more when they choose under ambiguity, while groups are better planners under ambiguity rather than under risk. Our results extend the often observed pattern of individuals behaving more optimally under risk, to its dynamic dimension. (shrink)

The enhancement of social inclusion is a key to maintaining cohesion in society and to foster the benefits of cultural diversity. Using insights from the Dual Identity Model with a special focus on active categorization, we develop an intervention to increase social inclusion. Our intervention encourages the participants to categorize on a superordinate level while being exposed to their own culture. Across a set of experiments, we test the efficacy of our intervention against control conditions on the effect (...) of social inclusion, measured by perceived social distance. Results show an increase in cultural closeness and provide preliminary support for the use of a DIM-based intervention to increase intercultural inclusion. (shrink)

The study investigates how the territorial community can influence the individual and social well-being of lesbian, gay, bisexual youth and especially the recognition of their feelings and the construction of their own identity as well as their needs to be socially recognized. This research focuses on the experiences of 30 LGB individuals, with a mean age of 25.07 years, living in urban and rural areas of Southern Italy. Focalized open interviews were conducted, and the Grounded Theory Methodology, supported by (...) the Atlas.ti 8.0 software, was used for data analysis. The textual material was first coded, and then codes were grouped into five macro-categories: Freedom of identity expression in the urban and rural context, identity construction and acceptance process, need of aggregation and identification with the LGB community, role of the interpersonal relationship in the process of identity acceptance, socio-cultural context, and LGB psychological well-being. The results showed a condition common to the two contexts that we can define as “ghettoization.” The young LGB is alone in the rural area due to a lack of places and people to identify with and greater social isolation. On the contrary, although there are more opportunities in the urban area, young people feel stigmatized and ghettoized because “their places” are frequented exclusively by the lesbian, gay, bisexual, transexual, queer community. The work will extensively discuss the limitations of the research, future proposals, and the practical implications of the results. (shrink)

Animal and human studies suggest that parenting style is transmitted from one generation to the next. The hypotheses of this study were that a mother’s rearing experiences would predict her own parenting resources and current maternal mood, motivation to care for her offspring, and relationship with her parents would underlie this association. In a subsample of 201 first-time mothers participating in the longitudinal Maternal Adversity, Vulnerability and Neurodevelopment project, we assessed a mother’s own childhood maltreatment and rearing experiences using the (...) Childhood Trauma Questionnaire and the Parental Bonding Instrument. At 6 months postpartum, mothers completed questionnaires on parenting stress, symptoms of depression, maternal motivation, and current relationship with their own parents. The sample consisted of mostly high socioeconomic status mothers recruited from Montréal or Hamilton, Canada, with an age range from 18 to 43 years. More severe maltreatment and less supportive rearing by the mother’s parents predicted increased parenting stress at 6 months. These associations were mediated through distinct psychosocial pathways: maltreatment on parenting stress through symptoms of depression ; maternal rearing on parenting stress through maternal motivation and symptoms of depression ; and paternal rearing on parenting stress through current relationship with the father. Maternal rearing experiences predict a mother’s own parenting resources though distinct psychosocial pathways, including depressed mood, maternal motivation, and social support. (shrink)

Animal and human studies suggest that parenting style is transmitted from one generation to the next. The hypotheses of this study were that a mother’s rearing experiences would predict her own parenting resources and current maternal mood, motivation to care for her offspring, and relationship with her parents would underlie this association. In a subsample of 201 first-time mothers participating in the longitudinal Maternal Adversity, Vulnerability and Neurodevelopment project, we assessed a mother’s own childhood maltreatment and rearing experiences using the (...) Childhood Trauma Questionnaire and the Parental Bonding Instrument. At 6 months postpartum, mothers completed questionnaires on parenting stress, symptoms of depression, maternal motivation, and current relationship with their own parents. The sample consisted of mostly high socioeconomic status mothers recruited from Montréal or Hamilton, Canada, with an age range from 18 to 43 years. More severe maltreatment and less supportive rearing by the mother’s parents predicted increased parenting stress at 6 months. These associations were mediated through distinct psychosocial pathways: maltreatment on parenting stress through symptoms of depression ; maternal rearing on parenting stress through maternal motivation and symptoms of depression ; and paternal rearing on parenting stress through current relationship with the father. Maternal rearing experiences predict a mother’s own parenting resources though distinct psychosocial pathways, including depressed mood, maternal motivation, and social support. (shrink)

Integrated assessment models of climate and the economy provide estimates of the social cost of carbon and inform climate policy. We create a variant of the Regional Integrated model of Climate and the Economy (RICE)—a regionally disaggregated version of the Dynamic Integrated model of Climate and the Economy (DICE)—in which we introduce a more fine-grained representation of economic inequalities within the model’s regions. This allows us to model the common observation that climate change impacts are not evenly (...) distributed within regions and that poorer people are more vulnerable than the rest of the population. Our results suggest that this is important to the social cost of carbon—as significant, potentially, for the optimal carbon price as the debate between Stern and Nordhaus on discounting. (shrink)

This study investigated effects of codes of ethics on perceptions of ethical behavior. Respondents from companies with codes of ethics (n = 465) rated role set members (top management, supervisors, peers, subordinates, self) as more ethical and felt more encouraged and supported for ethical behavior than respondents from companies without codes (n = 301). Key aspects of the organizational climate, such as supportiveness for ethical behavior, freedom to act ethically, and satisfaction with the outcome of ethical problems were impacted by (...) the presence of an ethics code. The mere presence of a code of ethics appears to have a positive impact on perceptions of ethical behavior in organizations, even when respondents cannot recall specific content of the code. (shrink)

Ideal carbon tax policy is internationally coordinated, fully internalizes externalities, redistributes revenues to those harmed, and is politically acceptable, generating predictable market signals. Since nonideal circumstances rarely allow all these conditions to be met, moral issues arise. This paper surveys some of the work in moral philosophy responding to several of these issues. First, it discusses the moral drivers for estimates of the social cost of carbon. Second, it explains how national self-interest can block climate action (...) and suggests international policies—carbon border tax adjustments and carbon clubs—that can help address these concerns. Third, it introduces some of the social science literature about the political acceptability of carbon taxes before addressing a couple common public concerns about carbon taxes. Finally, it introduces four carbon revenue usage options, arguing that redistributive and climate compensation measures are most morally justified. [Open access]. (shrink)

Future population growth is uncertain and matters for climate policy: higher growth entails more emissions and means more people will be vulnerable to climate-related impacts. We show that how future population is valued importantly determines mitigation decisions. Using the Dynamic Integrated Climate-Economy model, we explore two approaches to valuing population: a discounted version of total utilitarianism (TU), which considers total wellbeing and is standard in social cost of carbon dioxide (SCC) models, and of average utilitarianism (AU), which (...) ignores population size and sums only each time period’s discounted average wellbeing. Under both approaches, as population increases the SCC increases, but optimal peak temperature decreases. The effect is larger under TU, because it responds to the fact that a larger population means climate change hurts more people: for example, in 2025, assuming the United Nations (UN)-high rather than UN-low population scenario entails an increase in the SCC of 85% under TU vs. 5% under AU. The difference in the SCC between the two population scenarios under TU is comparable to commonly debated decisions regarding time discounting. Additionally, we estimate the avoided mitigation costs implied by plausible reductions in population growth, finding that large near-term savings ($billions annually) occur under TU; savings under AU emerge in the more distant future. These savings are larger than spending shortfalls for human development policies that may lower fertility. Finally, we show that whether lowering population growth entails overall improvements in wellbeing—rather than merely cost savings—again depends on the ethical approach to valuing population. (shrink)

This chapter qualitatively lays out some of the ways that climate change impacts are evaluated in integrated assessment models (IAMs). Putting aside the physical representations of these models, it first discusses some key social or structural assumptions, such as the damage functions and the way growth is modeled. Second, it turns to the moral assumptions, including parameters associated with intertemporal evaluation and interpersonal inequality aversion, but also assumptions in population ethics about how different-sized populations are compared and how we (...) think about distributing goods across or within times. The intention is to survey the morally important assumptions that go into estimates of the social cost of carbon, the marginal cost of an additional tonne of carbon dioxide to society. (shrink)

This paper presents a conceptual link among green marketing, environmental justice, and industrial ecology. It argues for greater awareness of environmental justice in the practice of green marketing. In contrast with the type of costs commonly discussed in the literature, the paper identified another type of costs, termed "costs with positive results," that may be associated with the presence of environmental justice in green marketing. A research agenda is finally suggested to determine consumers'' awareness of environmental justice, and their willingness (...) to bear the costs associated with it. (shrink)

Lab experiments on punishment are of limited relevance for understanding cooperative behavior in the real world. In real interactions, punishment is not cheap, but the costs of punishment are of a different nature than in experiments. They do not correspond to direct payments or payoff deductions, but they arise from the repercussions punishment has on social networks and future interactions.

Social psychologists have found that stereotypes correlate with moral judgments about agents and actions. The most commonly studied stereotypes are race/ethnicity and gender. But atheists compose another stereotype, one with its own ignominious history in the Western world, and yet, one about which very little is known. This project endeavored to further our understanding of atheism as a social stereotype. Specifically, we tested whether people with non-religious commitments were stereotypically viewed as less moral than people with religious commitments. (...) We found that participants’ moral appraisals of atheists were more negative than those of Christians who performed the same moral and immoral actions. They also reported immoral behavior as more consistent for atheists, and moral behavior more consistent for Christians. The results contribute to research at the intersection of moral theory, moral psychology, and psychology of religion. (shrink)

A number of very interesting and complicated problems have been posed in our discussion. They are complex not only in terms of investigation but, perhaps, even more so on the practical plane, probably because, among other things, there are times when theoretical ideation runs ahead of the practical potentials for implementing it at the given stage in life. But this may be useful, for it compels us to seek these practical solutions.

A question arising from the COVID-19 crisis is whether the merits of cases for climate policies have been affected. This article focuses on carbon pricing, in the form of either carbon taxes or emissions trading. It discusses the extent to which relative costs and benefits of introducing carbon pricing may have changed in the context of COVID-19, during both the crisis and the recovery period to follow. In several ways, the case for introducing a carbon price (...) is stronger during the COVID-19 crisis than under normal conditions. Oil costs are lower than normal, so we would expect less harm to consumers compared to normal conditions. Governments have immediate need for diversified new revenue streams in light of both decreased tax receipts and greater use of social safety nets. Finally, supply and demand shocks have led to already destabilized supply-side activities, and carbon pricing would allow this destabilization to equilibrate around greener production for the long-term. The strengthening of the case for introducing carbon pricing now is highly relevant to discussions about recovery measures, especially in the context of policy announcements from the European Union and United States House of Representatives. Key Policy Insights: • Persistently low oil prices mean that consumers will face lower pain from carbon pricing than under normal conditions. • Many consumers are more price-sensitive during the COVID-19 context, which suggests that a greater relative burden from carbon prices would fall upon producers as opposed to consumers than under normal conditions. • Carbon prices in the COVID-19 context can introduce new revenue streams, assisting with fiscal holes or with other green priorities. • Carbon pricing would contribute to a more sustainable COVID-19 recovery period, since many of the costs of revamping supply chains are already being felt while idled labor capacity can be incorporated into firms with lower carbon-intensity. (shrink)

See "What's Wrong with Factory Farming?" (2015) for an updated treatment of these issues.

Tourism is one of the socio-economic trends that significantly contributes to the shift of the planetary system into the Anthropocene regime. At the same time, it is also a socio-cultural practice characteristic of the imperial mode of living, or consumerism. Thus, it is a form of commodification of nature, also a way of deepening social inequalities between a privileged minority of the global population and an exploited majority providing services to those whose socio-economic status allows them to travel for (...) fun and commoditised “experience”. This is not an inevitable activity, an activity in which environmental costs (carbon footprint, water footprint, energy consumption, and waste production) are necessary to ensure the basic resources of life. Tourism is therefore a form of luxury consumption. For any tourism model to be, not only, environmentally sustainable but also socially just, or at least acceptable, it would have to be accessible to all people. Ecotourism should also have to meet the criterion of a solidarity mode of living referred to as sufficiency. This is hardly conceivable in the climatic, demographic, and political regime of the Anthropocene. The latter is likely to be characterized by, among other things, mass migration of climate or environmental refugees on the one hand and climate apartheid of the states of the global North on the other. Ecotourism, accessible to an even smaller proportion of the world`s population than the current mass tourism, will thus be more likely to accentuate the social and environmental inequalities of which it is already a significant manifestation. Therefore, the question is whether the concept of ecotourism is not just another manifestation of greenwashing, i.e. an attempt to legitimize economic, social, and cultural activities that devastate the social and environmental environment. (shrink)

Corporate social responsibility (CSR) is a concept aimed to ensure that corporations conduct their business in an ethical manner by taking care of their environment and human resources in addition to their economic impact. Often times, CSR refers to the steps undertaken by a corporation to measure its efforts to improve the environment and social well‐being. One of the aspects of CSR pertains to the disclosure of emission information and carbon management strategy (CMS). Carbon Management refers (...) to analyzing and focusing on those areas within the corporation where cost reductions can be made via energy reductions, waste management, and reduced resource consumption. In this article, we examine the role of an effective CMS on the emission disclosure behavior of firms. We utilize the carbon disclosure project surveys to find that firms adopting an effective CMS are more likely to disclose the information about both direct and indirect emissions. (shrink)

Enhanced weathering, in comparison to other geoengineering measures, creates the possibility of a reduced cost, reduced impact way of decreasing atmospheric carbon, with positive knock-on effects such as decreased oceanic acidity. We argue that ethical concerns have a place alongside empirical, political and social factors as we consider how to best respond to the critical challenge that anthropogenic climate change poses. We review these concerns, considering the ethical issues that arise (or would arise) in the large-scale deployment (...) of enhanced weathering. We discuss post-implementation scen- arios, failures of collective action, the distribution of risk and externalities and redress for damage. We also discuss issues surrounding ‘dirty hands’ (taking conventionally immoral action to avoid having to take action that is even worse), whether enhanced weathering research might present a moral hazard, the importance of international governance and the notion that the implementation of large-scale enhanced weathering would reveal problematic hubris. Ethics and scientific research interrelate in complex ways: some ethical considerations caution against research and implementation, while others encourage them. Indeed, the ethical perspective encourages us to think more carefully about how, and what types of, geoengineering should be researched and implemented. (shrink)

Climate justice demands polluters to take responsibility for both present and future harm caused by past GHG emissions and for future harm caused by future GHG emissions. One problem with this is double climate taxation: people living in historical polluting countries must both shoulder the burden of an effective and inclusive climate transition and repay the climate debt incurred by their predecessors. Although double climate taxation might be defensible on normative grounds, it risks making climate justice politically infeasible. I therefore (...) maintain that global climate justice should focus on future, rather than past, climate harms. The forward-looking polluter pays principle (FL-PPP) can ensure both a cost-effective climate transition and a fair distribution of the climate burden, provided it is applied as follows: i) each country must introduce a carbon price calibrated to the global social cost of carbon; ii) each country must transfer part of carbon revenues collected at the country level to an international fund; iii) global carbon revenues must be redistributed on the basis of the country-level social cost of carbon. The FL-PPP burden can be made more progressive, moreover, if the formula for allocating global carbon revenues is adjusted through two coefficients, one consumption-based and one priority-sensitive. (shrink)

To reduce CO2 emissions requires greater reliance on renewable sources of energy for generating electricity, especially adoption of large-scale wind generation. This study investigates possible approaches and/or policies that increase efficient use of renewable energy and reduce greenhouse gas emissions in a cost effective manner. We develop a constrained optimization model of two electricity systems to identify the impact of increasing wind generating capacity and examine how carbon prices (taxes, allowances) impact the penetration of wind power into the (...) electricity grids. Rather than employ engineering cost functions, marginal cost functions are estimated using hourly offer data from the Alberta Electric System Operator. We determine optimal removal of coal generating facilities as greater levels of wind capacity are installed in an integrated Alberta-BC electricity system; and examine the economic costs and institutional incentives that affect the ability to store intermittent wind-generated power in BC’s hydro reservoirs during low demand. The marginal shadow price of storage is zero, whichindicates that there is more than enough water behind the dams given Alberta’s relatively small demand for storage and limited intertie transmission capacity. (shrink)

This paper examines a looming reproducibility crisis in the core of the hard sciences. Namely, it concentrates on molecular modeling and simulation (MMS), a family of methods that predict properties of substances through computing interactions on a molecular level and that is widely popular in physics, chemistry, materials science, and engineering. The paper argues that in order to make quantitative predictions, sophisticated models are needed which have to be evaluated with complex simulation procedures that amalgamate theoretical, technological, and social (...) factors – leading to problems with reproducibility. Thus, for methodological reasons, the predictive success causes a reproducibility problem. (shrink)

"Although the task of formulating an appropriate policy response to the problem of anthropogenic climate change is one that raises a number of very difficult normative issues, environmental ethicists have not played an influential role in government deliberations. This is primarily due to their rejection of many of the assumptions that structure the debates over policy. This book offers a philosophical defense of these assumptions, in order to overcome the major conceptual barriers to the participation of philosophers in these debates. (...) There are five important barriers: First, the policy debate presupposes a stance of liberal neutrality, as a result of which it does not privilege any particular set of environmental values over other concerns. Second, it assumes ongoing economic growth, along with a commitment to what is sometimes called a weak sustainability framework when analyzing the value of the bequest being made to future generations. Third, it treats climate change as fundamentally a collective action problem, not an issue of distributive justice. Fourth, there is the acceptance of cost-benefit analysis, or more precisely, the view that a carbon pricing regime should be guided by our best estimate of the social cost of carbon. And finally, there is the view that when this calculation is undertaken, it is permissible to discount costs and benefits, depending on how far removed they are from the present. This book attempts to make explicit and defend these presuppositions, and in so doing offer philosophical foundations for the debate over climate change policy"--. (shrink)

Regulation is often applied to business behavior to ensure that the social costs of doing business are included in the cost and pricing structures of the firm. Because the consumer benefits from the transaction that generated the social costs, asking the consumer to bear the burden imposed by the transaction is fair. However, there may be a lack of Justice m the internal and external distribution of the social costs of doing business if consumers are the (...) only party bearing that burden, or if the costs are being shifted to employees or taxpayers when a closer stakeholder is also benefiting from the transaction – the stockowner. A social justice perspective requires that those benefiting from a transaction share in the burdens of it. We propose that a Tobin-like tax on stock transactions might be a just means of achieving greater justice in the distribution of the social cost burden. (shrink)

Although the prison was originally conceived for the noble purpose of rehabilitating criminal offenders, critics from its very inception worried that the prison was an inherently criminogenic institution, reinforcing the criminal behaviors of its occupants. In this article I focus on an indirect mechanism, elaborating and empirically testing the impact of a prison record/experience on ex-inmates' labor market outcomes, by which ex-inmates will face significantly higher risks of recidivism and hence future prison spells, especially when they are released into weaker (...) labor markets. Specifically, I specify and test a version of the "secondary labor market hypothesis." Because most ex-inmates were mired in secondary jobs prior to their incarceration, I consider the impact of a prison record/experience on their chances of "moving up" to good jobs with higher pay, steadier hours, and greater mobility. In the conclusion I draw out the somber implications of my labor market analyses by examining trends in recidivism rates and their social costs. The evidence suggests that the War on Drugs policies have trapped an increasing number of more marginal drug offenders in the revolving door of recidivism, conventionally defined. It also highlights a new and quantitatively important recidivism risk for released prisoners, the revocation of parole on technical violations. To break out of this vicious cycle, my analysis shows, would demand vast direct government interventions in the labor market. As a more modest first step, I consider policy innovations like drug courts that place marginal drug offenders in treatment programs rather than prison. In illustrating and elaborating my arguments, I focus on the War on Drug policies and on marginal drug offenders. My reasons are several. First, the War on Drugs constituted a true social experiment, an exogenous shift in criminal justice policy that is best understood as a "moral" panic, precipitated in part by the tragic but transitory episode of lethal gun violence in the social regulation of the crack trade. Second, the War on Drugs policies were quantitatively important in instituting the regime of mass incarceration. And finally, these policies indiscriminately incarcerated marginal, not just more serious, offenders. (shrink)

We seek insights into potential benefits for firms adopting strategies to improve business sustainability in a carbon-constrained future. We investigate whether lenders incorporate a firm’s exposure to carbon-related risk into lending decisions through the cost of financing, and if so, importantly whether firms can mitigate the penalty by demonstrating an awareness of their carbon risks. We use a sample of 255 firm-year observations from eight industries over the period 2009–2013. We measure carbon-related risk exposure as (...) the firm’s historical carbon emissions and our primary measure of carbon risk awareness is based on the firm’s willingness to respond to the Carbon Disclosure Project survey. We document a positive association between cost of debt and carbon risk for firms failing to respond to the CDP. Further, this association is economically meaningful, with a one standard deviation increase in carbon risk mapping into between a 38 and 62 basis point increase in the cost of debt. Equally, we find that this penalty is effectively negated for firms exhibiting carbon risk awareness. Our results are robust when we consider alternate measures of carbon awareness—disclosure through alternative medium to the CDP and firms’ annual cash investment in new capital assets using “cleaner” technology. Our results highlight not only the importance of carbon awareness as a business strategy for polluting firms, but also its importance to lenders exposed to their clients’ default and reputational risk. The debt market appears to incorporate historical carbon emissions and forward-looking indicators of carbon performance. (shrink)

There is growing acknowledgement of a moral obligation to curb our personal carbon emissions. However, while much has been said regarding certain kinds of carbon- ntensive behaviours, the philosophical literature has – until only very recently – been largely silent regarding one of the worst things that a person can choose to do from a climate perspective: namely, have a child. I contend that procreation is an inessential high-emission activity – one that results in inordinately greater emissions than (...) other activities like joyguzzling or flying. Given this, I argue that if we believe that individuals bear moral responsibility for their personal carbon emissions, then we have strong moral reasons to refrain from choosing to procreate, reasons which – for many – amount to a moral obligation to refrain from choosing to have children. I also consider whether our climate duties might also be discharged by offsetting the climate burden of any children we do choose to have and providing a concrete quantification of what that offsetting might look like. (shrink)

Since the last ice age, when ice enveloped most of the northern continents, the earth has warmed by about five degrees. Within a century, it is likely to warm by another four or five. This revolution in our climate will have immense and mostly harmful effects on the lives of people not yet born. We are inflicting this harm on our descendants by dumping greenhouse gases into the atmosphere. We can mitigate the harm a little by taking measures to control (...) our emissions of these gases, and to adapt to the changes by, for instance, building sea walls around coastlines threatened by rising sea levels. But these measures will be very expensive, and the costs will be born by us, the present generation, whereas the benefits will come to future generations. How much should we sacrifice for the sake of the future? Economists and philosophers have independently worked on the question of our responsibility to future generations. This book brings their work together and applies it to global warming. It suggests a programme for future research on the economic and ethical issues. The book is intended for economists, and for philosophers and other social scientists who have a little knowledge of economic methods. (shrink)