Climate change raises challenging questions in the economics of risk, space, time and in broader aspects of human well-being. Many of these are normative questions, which cannot be addressed without engaging with difficult ethical issues. Welfare economics is just one perspective, and the standard 'workhorse' model, while powerful, has a particularly restrictive structure. Coherent analysis requires the integration of economics with moral and political philosophy, a theme in much of Amartya Sen's work.
Dietz, S., C.J. Hepburn and N. Stern. "Economics, Ethics and Climate Change." Dec 2007. Available at SSRN.
