MacKerron, Gordon (2014): Costs and economics of geoengineering

MacKerron, Gordon (2014): Costs and economics of geoengineering (CGG Working Papers, 13).

„The starting point here is the frequently observed phenomenon of ‘appraisal optimism’ or optimism bias (UK Treasury 2013)– the escalation of the costs of a new technology well beyond original expectations. These escalations have been frequent – virtually pervasive – where technologies are novel and/or the scale of activity has been large (‘megaprojects’), and they have overwhelmed any learning or economy of scale effects that have, in other technologies or products, acted to reduce costs over time.“

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