Ambiguity and Climate Policy
---- Acknowledgements -----
We thanks Cameron Hepburn, Christian Traeger, Martin Weitzman and Raphael Calel for helpful comments, and Malte Meinshausen for supplying us with empirical estimates of climate distributions. We acknowledge financial support from Munich RE and the Grantham Research Insitute at the London School of Economics. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.