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Does the case for tackling human-induced climatic change become stronger as mean-preserving uncertainty, as measured by the standard deviation of possible outcomes, rises? When excluding the real option policy choice of waiting before acting, I show that a simple set of conditions will ensure...
Persistent link: https://www.econbiz.de/10013049325
The initial hope for climate science was that an improved understanding of what the future might bring would lead to appropriate public policies and effective international climate agreements. Even if that hope is not realized, as now seems likely, scientific advances leading to a more refined...
Persistent link: https://www.econbiz.de/10013017492
We assess how changes in the scientific consensus around equilibrium climate sensitivity (ECS), as captured by the IPCC’s Fifth (AR5) and Sixth (AR6) Assessment Reports, impact policymakers’ willingness to take climate action. Taking the IPCC’s reports at face value, the ECS estimates in...
Persistent link: https://www.econbiz.de/10015197301