Fat Tails, Thin Tails, and Climate Change Policy
Climate policy is complicated by the considerable uncertainties concerning the benefits and costs of abatement. We do not even know the probability distributions for future temperatures and impacts, making benefit–cost analysis based on expected values challenging to say the least. There are good re...
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| Format: | Article |
| Language: | en_US |
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Oxford University Press
2012
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| Online Access: | http://hdl.handle.net/1721.1/75372 https://orcid.org/0000-0001-8296-9875 |