@article{TEXTUAL,
      recid = {14585},
      author = {Archer, David and Kite, Edwin and Lusk, Greg},
      title = {The ultimate cost of carbon},
      journal = {Climatic Change},
      address = {2020-07-15},
      number = {TEXTUAL},
      abstract = {We estimate the potential ultimate cost of fossil-fuel  carbon to a long-lived human population over a one  million–year time scale. We assume that this hypothetical  population is technologically stationary and agriculturally  based, and estimate climate impacts as fractional decreases  in economic activity, potentially amplified by a human  population response to a diminished human carrying  capacity. Monetary costs are converted to units of  present-day dollars by multiplying the future damage  fractions by the present-day global world production, and  integrated through time with no loss due from  time-preference discounting. Ultimate costs of C range from  10k USD to 750k USD per ton for various assumptions about  the magnitude and longevity of economic impacts, with a  best-estimate value of about 100k USD per ton of C. Most of  the uncertainty arises from the economic parameters of the  model and, among the geophysical parameters, from the  climate sensitivity. We argue that the ultimate cost of  carbon is a first approximation of our potential  culpability to future generations for our fossil energy  use, expressed in units that are relevant to us.},
      url = {http://knowledge.uchicago.edu/record/14585},
}