Cameron Hepburn

Senior Research Fellow

Cameron works for the Grantham Research Institute on Climate Change and the Environment on the projects 'Climate science and decision making|' and 'Mitigation of climate change: carbon markets and technology|'.

Background

Cameron has a DPhil in Economics from Oxford, along with an MPhil in Economics from Oxford, an L.L.B (Hons) and a B.Eng (Hons) from Melbourne University, Australia.

Research programmes

Co-topic lead of 'The design of policy instruments|'

Research interests

  • Environmental economics;
  • Climate change economics;
  • Environmental policy;
  • Carbon markets and emissions trading;
  • Sustainability;
  • Behavioural economics.

Media articles

2013

Is this the end of carbon trading, or just a hiccup?
|Cameron Hepburn, The Conversation, 16 May

2012

Should the EU suspend its airline emissions charge? |
Cameron Hepburn, VOX, 30 October

Carbon price floor crucial to its aims
|Frank Jotzo, Erwin Jackson, Tony Wood and Cameron Hepburn, Financial Review, 4 July

2009

Super solution to climate change
|Cameron Hepburn, ABC Environment, 18 December

Green light for a Keynesian stimulus
|Cameron Hepburn, CEO Today, 23 January

2008

Saving the planet: it's down to business
|Cameron Hepburn, Sydney Morning Herald, 1 September

Policy articles

2012

Hepburn, C., Chapman, S., Doda, B., Duffy, C., Fankhauser, S., Rydge, J., Smith, K., Taschini, L., and Vitelli, A. January 2012. The 'surrender charge' on international units in the Australian ETS. Policy paper, Grantham Research Institute, London, UK. Download PDF of paper  |

Research articles 

2013

Meckling, J., and Hepburn, C. 2013. Economic instruments for climate change. In: The Handbook of Global Climate and Environment Policy (Falkner, R. [ed.]). Wiley-Blackwell. External link to book information| 

2012

Baptist, S., and Hepburn, C. November 2012. Intermediate inputs and economic productivity. Working paper, Grantham Research Institute, London, UK. Download PDF of paper| 

Hepburn, C., and Bowen, A. November 2012. Prosperity with growth: economic growth, climate change and environmental limits. Working paper, Grantham Research Institute, London, UK. Download PDF of paper| 

Helm, D., Hepburn, C., and Ruta, G. May 2012. Trade, climate change and the political game theory of border carbon adjustments. Working paper, Grantham Research Institute, London, UK. Download PDF of paper

2011

Dutton, Hepburn, C., and MacDonald. July 2011. A stated preference investigation into the Chinese demand for farmed vs. wild bear bile. PloS One, 6:7, e21243. External link to full document| 

Caney, S., and Hepburn, C. May 2011. Carbon trading: unethical, unjust and ineffective?

Hepburn, C.J, and Frame, D.J. May 2011. Emerging markets and climate change: Mexican standoff or low-carbon race? Working paper, Grantham Research Institute on Climate Change and the Environment, London. Download PDF of paper|

Hepburn, C., and Ward, J. May 2011. Self-interested low-carbon growth in G-20 emerging markets. Global Journal of Emerging Market Economies, v.3, pp.195-222. External link to full article|

Fankhauser, S., Hepburn, C., and Park, J. February 2011. Combining multiple climate policy instruments: how not to do it. Working paper, Grantham Research Institute on Climate Change and the Environment, London. Download PDF of paper|

Duncan, S., Hepburn, C., and Papachristodoulou, A. January 2011. Optimal harvesting of fish stocks under a time-varying discount rate. Journal of Theoretical Biology, v.269, pp.166-173. External link to full article|

Hepburn, C. January 2011. Thinking through the climate change challenge. VoxEU. External link to full article|

Hepburn, C., and Ward, J. 2011. Action on climate change in Asia's self-interest. Asia 2050: realizing the Asian century (Harinder Kohli, Ashok Sharma and Anil Sood [eds.]). Sage Publications. External link to book details|

2010

Fankhauser, S., Hepburn, C., and Park, J. December 2010. Combining multiple climate policy instruments: How not to do it. Climate Change Economics, v.1, pp. 209-225. External link to full article|

Fankhauser, S., and Hepburn, C. August 2010. Designing carbon markets, Part I: Carbon markets in time. Energy Policy, v.38, pp.4363-4370. External link to full article|

Fankhauser, S., and Hepburn, C. August 2010. Designing carbon markets, Part II: Carbon markets in space. Energy Policy, v.38, pp.4381-4387. External link to full article|

Hepburn, C. Summer 2010. Environmental policy, government, and the market. Oxford Review of Economic Policy, v.26, pp.117-136. External link to full article|

Hepburn, C., Duncan, S., and Papachristodoulou, A. June 2010. Behavioural economics, hyperbolic discounting and environmental policy. Environmental and Resource Economics, v.46, pp.189-206. External link to full article|

Hepburn, C., and Müller, B. June 2010. International air travel and greenhouse gas emissions: A proposal for an adaptation levy. The World Economy, v.33, p.830-849. External link to full article|

Frame, D., and Hepburn, C. An issue of trust: state corruption, responsibility and greenhouse gas emissions. January 2010. Environmental Research Letters, v.5. External link to full article|

Dietz, S., and Hepburn, C. March 2010. On non-marginal cost-benefit analysis. Working paper, Grantham Research Institute on Climate Change and the Environment, London. Download PDF of paper|

Frame, D., and Hepburn, C. An issue of trust: state corruption, responsibility and greenhouse gas emissions. January 2010. Environmental Research Letters, v.5. External link to full article|

2009

Atkinson,G., Dietz, S., Helgeson, J., Hepburn, C., and Sælen, H. June 2009. Siblings, not triplets: social preferences for risk, inequality and time in discounting climate changeEconomics: the open-access, open-assessment e-journal, v.3. External link to full article|

Hepburn, C., Koundouri, P., Panopoulou, E., and Pantelidis, T. Social discounting under uncertainty: a cross country comparison. March 2009. Journal of Environmental Economics and Management, v.57, pp.140-150. External link to full article|

Anthoff, D., Hepburn, C., and Tol, R. Equity weighting and the marginal damage costs of climate change. Ecological Economics, v.68, pp.836-849. External link to full article|

Dietz, S., Hepburn, C., and Stern, N. Economics, ethics and climate change. Arguments for a Better World: essays in honour of Amartya Sen (Volume 2: society, institutions and development) [Kaushik Basu and Ravi Kanbur (eds.)], 2009. Oxford University Press, Oxford. Download PDF of chapter| 

Hepburn, C. Carbon taxes, emissions trading and hybrid schemes. The Economics and Politics of Climate Change [Dieter Helm and Cameron Hepburn (eds.)], 2009, p.365-384. Oxford University Press, Oxford.

Hepburn, C., and Stern, N. The global deal on climate change. The Economics and Politics of Climate Change [Dieter Helm and Cameron Hepburn (eds.)], 2009, p.36-57. Oxford University Press, Oxford.

Hepburn, C. International carbon finance and the Clean Development Mechanism. The Economics and Politics of Climate Change [Dieter Helm and Cameron Hepburn (eds.)], 2009, pp.409-429. Oxford University Press, Oxford.

Helm, D., and Hepburn, C. Introduction. The Economics and Politics of Climate Change [Dieter Helm and Cameron Hepburn (eds.)], 2009, pp.1-5. Oxford University Press, Oxford. 

2008

Hepburn, C., and Stern, N. 2008. A new global deal on climate change. Oxford Review of Economic Policy, v.24, pp.259-279. External link to full article|

2007

Hepburn, C. Carbon trading: a review of the Kyoto mechanisms. November 2007. Annual Review of Environment and Resources, v.32, pp.375-393. External link to full article|

Irons, B., and Hepburn, C. June 2007. Regret theory and the tyranny of choice. Economic Record, v.83, v.191-203. External link to full article|

Beckerman, W., and Hepburn, C. Ethics of the discount rate in the Stern Review on the Economics of Climate Change. World Economics, v.8, pp.187-210. External link to full article|

Hepburn, C., and Groom. 2007. Gamma discounting and expected net future value. Journal of Environmental Economics and Management, v.53, pp.99-109.

Hepburn, C., and Koundouri. 2007. Recent advances in discounting: implications for forest economics. Journal of Forest Economics, v.13, pp.169-189.

2006

Hepburn, C. Summer 2006. Regulating by prices, quantities or both: an update and an overview. Oxford Review of Economic Policy, v.22, pp.226-247. External link to full article|

Guo, J., Hepburn, C., Tol, R., and Anthoff, D. February 2007. Discounting and the social cost of carbon: A closer look at uncertainty. Environmental Science and Policy, v.9, pp.205-216. External link to full article|

Hepburn, C., Neuhoff, K., Grubb, M., Matthes, F., and Tse, M. 2006. Auctioning of EU ETS Phase II allowances: why and how? Climate Policy, v.6, pp.137-160. External link to full article|

Smale, R., Hartley, M., Hepburn, C., Grubb, M., and Ward, J. 2006. Emissions, firm profits and market prices: the consequences from emissions trading. Climate Policy, v.6, pp.29-46. External link to full article|

2005

Ceronsky, M., Hepburn, C., Obersteiner, M., and Yamagata, Y. January 2005. Clashing strategic cultures and climate policy. Climate Policy, v.4, pp.347-357. External link to full article|

Groom, B., Hepburn, C., Koundouri, P., and Pearce, D. 2005. Discounting the future: the long and the short of it. Environmental and Resource Economics, v.31, pp.445-493. External link to full article|

Groom, B., Hepburn, C., and Koundouri, P. Implications of declining discount rates for UK climate change policy. Valuing the Environment in Developed Countries [ in D. Peace (ed.)], 2005, chapter 5. Edward Elgar, Cheltenham, UK.

2003

Helm, D., Hepburn, C., and Mash, R. 2003. Credible carbon policy. Oxford Review of Economic Policy, v.19, pp.438-50. External link to full article|

Hepburn, C., Pearce, D., Groom, B., and Koundouri, P. 2003. Valuing the future: recent advances in social discounting. World Economics, v.4, pp.121-141. Download PDF of chapter|

More information

Contact details

  • Email
  • Telephone: +44 (0) 20 7107 5423 
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Photograph of Cameron Hepburn