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Diagnostic analyses across CBAIAMs indicate important dissimilarities in modelling assembly, implementation issues and behaviour , parametric uncertainty, damage responses, income sensitivity that need to be recognized to better understand SCC estimates Rose. Although CBAbased and CEAbased assessment are both subject to large uncertainty about sociotechnoeconomic trends, policy developments and climate response, the range of estimates for the SCC along an optimal trajectory determined by CBA is far wider than for estimates of the shadow price of carbon in CEAbased approaches. In CBA, the value judgments about inter and intragenerational equity combined with uncertainties in the climate damage functions assumed, including their empirical basis, are important Pindyck, Stern, Revesz. In a CEAbased approach, the value judgments about the aggregate welfare function matter less, and uncertainty about climate response and impacts can be tied into various climate targets and related emissions budgets Clarke. In CEA, the marginal abatement cost of carbon is determined by the climate goal under consideration. It equals the shadow price of carbon associated with the goal which in turn can be interpreted as the

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