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econ.GN2022★ 1 cited
Shadow prices and optimal cost in economic applications
Nikolay Khabarov, Alexey Smirnov, Michael Obersteiner
Shadow prices are well understood and are widely used in economic applications. However, there are limits to where shadow prices can be applied assuming their natural interpretatio…
econ.GN2020
Social Cost of Carbon: What Do the Numbers Really Mean?
Nikolay Khabarov, Alexey Smirnov, Michael Obersteiner
Social cost of carbon (SCC) is estimated by integrated assessment models (IAM) and is widely used by government agencies to value climate policy impacts. While there is an ongoing…