Extended Data Fig. 3: Sensitivity of household burden rates across global expenditure groups to the substitution elasticity (σ) under CO2-only (US$50/tCO2) and multi-GHG (US$26/tCO2e) pricing. | Nature Climate Change

Extended Data Fig. 3: Sensitivity of household burden rates across global expenditure groups to the substitution elasticity (σ) under CO2-only (US$50/tCO2) and multi-GHG (US$26/tCO2e) pricing.

From: Distributional effects of expanding climate targets beyond CO2

Extended Data Fig. 3: Sensitivity of household burden rates across global expenditure groups to the substitution elasticity (σ) under CO2-only (US$50/tCO2) and multi-GHG (US$26/tCO2e) pricing.The alternative text for this image may have been generated using AI.

A value of σ = 1 implies constant expenditure shares with no substitution responses (main result); σ < 1 represents complementary across goods; and σ > 1 indicates substitutability, with higher values reflecting greater ease of substitution.

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