Reducing greenhouse gas emissions not only lowers expected damages from climate change but also reduces the risk of catastrophic impacts. However, estimates of the social cost of carbon, which measures the marginal value of carbon dioxide abatement, often do not capture this risk reduction...

This article traces the development of uncertainty analysis through three generations punctuated by large methodology investments in the nuclear sector. Driven by a very high perceived legitimation burden, these investments aimed at strengthening the scientific basis of uncertainty...