Brian C. Prest

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Fellow with Indefinite Appointment Resources for the Future

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Research

Publications

  1. “The Shadow Price of Capital: Accounting for Capital Displacement in Benefit–Cost Analysis”, with Richard Newell and Billy Pizer. NBER Environmental and Energy Policy and the Economy (2024)

  2. “US benefit-cost analysis requires revision”, 2023, with Peter H. Howard , Max Sarinsky, Michael Bauer, Caroline Cecot, Maureen Cropper, Moritz Drupp, Mark Freeman, Kenneth T. Gillingham, Christian Gollier, Ben Groom, Qingran Li, Michael Livermore, Richard Newell, William A. Pizer, Glenn Rudebusch, Thomas Sterner, and Gernot Wagner. May 25, (2023). Science. Vol 380, Issue 6647. p. 803. DOI: 10.1126/science.adi5943

  3. “Climate Royalty Surcharges”, with James Stock. Working version available at RFF. Journal of Environmental Economics and Management 120 (2023): 102844.

  4. “RCTs Against the Machine: Can Machine Learning Prediction Methods Recover Experimental Treatment Effects?”, with Casey Wichman and Karen Palmer. Journal of the Association of Environmental and Resource Economists 10, no. 5 (2023): 1231-1264. Preprint available at RFF.

  5. “Comprehensive Evidence Implies a Higher Social Cost of CO2, Kevin Rennert, Frank Errickson, Brian C. Prest, Lisa Rennels, Richard G. Newell, William Pizer, Cora Kingdon, Jordan Wingenroth, Roger Cooke, Bryan Parthum, David Smith, Kevin Cromar, Delavane Diaz, Frances C. Moore, Ulrich K. Müller, Richard J. Plevin, Adrian E. Raftery, Hana Ševčíková, Hannah Sheets, James H. Stock, Tammy Tan, Mark Watson, Tony E. Wong, David Anthoff, Nature, (2022)

  6. “A Discounting Rule for the Social Cost of Carbon”, with Richard Newell and Billy Pizer, Journal of the Association of Environmental and Resource Economists, 9 , no. 5 (September 2022): 1017-1046. Preprint available at RFF.

  7. “Supply-side Reforms to Oil and Gas Production on Federal Lands: Modeling the Implications for CO2 Emissions, Revenues, and Leakage”, Journal of the Association of Environmental and Resource Economists, 9, no. 4 (July 2022): 681-720. Preprint available at RFF.

  8. “The Social Cost of Carbon: Advances in Long-Term Probabilistic Projections of Population, GDP, Emissions, and Discount Rates“, with K. Rennert, W. Pizer, R. Newell, D. Anthoff, C. Kingdon, L. Rennels, R. Cooke, A. Raftery, H. Sevcikova, and F. Errickson, Brookings Papers on Economic Activity, (2021). Preprint available at RFF.

  9. “The GDP-Temperature Relationship: Implications for Climate Change Damages”, with Richard Newell and Steven Sexton, Journal of Environmental Economics and Management, 108, (July 2021), 102445. Working paper available at RFF.

  10. “How Clean is ‘Refined Coal’? An Empirical Assessment of a Billion Dollar Tax Credit”, with Alan Krupnick, Energy Economics, 97, (May 2021), 105023. Working paper available at RFF.

  11. “Prices versus Quantities with Policy Updating”, with Billy Pizer. Journal of the Association of Environmental and Resource Economists, 7, no. 3 (May 2020): 483-518.

  12. “Peaking Interest: How awareness drives the effectiveness of time-of-use electricity pricing”, Journal of the Association of Environmental and Resource Economists, 7, no. 1 (January 2020): 103-143.

  13. “Trophy Hunting vs. Manufacturing Energy: The Price-Responsiveness of Shale Gas”, with Richard Newell & Ashley Vissing. Journal of the Association of Environmental and Resource Economists, 6, no. 2 (March 2019): 177-217.

  14. “The Unconventional Oil Supply Boom: Aggregate Price Response from Microdata”, with Richard Newell. The Energy Journal, 40, no. 3 (May 2019).

  15. “Explanations for the 2014 Oil Price Decline: Supply or Demand?”, Energy Economics, 74 (August 2018): 63-75.

Work in Progress

  1. “Disentangling the Roles of Growth Uncertainty, Discounting, and the Climate Beta on the Social Cost of Carbon”

  2. “Estimating the Emissions Reductions from Supply-side Fossil Fuel Interventions”, with Harrison Fell, Deborah Gordon, and TJ Conway. Revisions requested.

  3. “Assessing the future of oil and gas production and local government revenue in five western US basins”, with Daniel Raimi, Zachary Whitlock. Under review.

Other Reports and Articles

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