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MERGE provides a framework for thinking about climate change management proposals. The model is designed to be sufficiently flexible to be used to explore alternative views on a wide range of contentious issues, eg costs, damages, valuation and discounting. We begin with a description of the model's individual components and show how they fit together. We then provide an initial application to illustrate how the framework can be used in the assessment of alternative policy options. Given the level of uncertainty which pervades the climate debate, it would be unrealistic to expect cost-benefit analysis to lead to consensus on a bottom line -- at least any time soon. Rather, models such as MERGE should be viewed as...
Most countries now wish to reduce their dependence on fossil fuels. In this paper, Professors Häfele and Manne discuss transition away from the current situation where virtually all demands for primary energy are met by fossil fuels. Assuming that this transition is to be based upon nuclear fission, they examine the interplay between natural resource scarcities, economics costs and the assessment of alternative technologies for the production of synthetic fuels.