@article{weitzman_fat_2014,
	title = {Fat {Tails} and the {Social} {Cost} of {Carbon}},
	volume = {104},
	issn = {0002-8282},
	url = {http://pubs.aeaweb.org/doi/10.1257/aer.104.5.544},
	doi = {10.1257/aer.104.5.544},
	abstract = {At high enough greenhouse gas concentrations, climate change might conceivably cause catastrophic damages with small but non-negligible probabilities. If the bad tail of climate damages is sufficiently fat, and if the coefficient of relative risk aversion is greater than one, the catastrophe-reducing insurance aspect of mitigation investments could in theory have a strong influence on raising the social cost of carbon. In this paper I exposit the influence of fat tails on climate change economics in a simple stark formulation focused on the social cost of carbon. I then attempt to place the basic underlying issues within a balanced perspective.},
	language = {en},
	number = {5},
	urldate = {2017-09-19},
	journal = {American Economic Review},
	author = {Weitzman, Martin L.},
	month = may,
	year = {2014},
	keywords = {GA, Untagged},
	pages = {544--546},
}

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