Fat-Tailed Uncertainty in the Economics of Catastrophic Climate Change

@article{Weitzman2011FatTailedUI,
  title={Fat-Tailed Uncertainty in the Economics of Catastrophic Climate Change},
  author={M. Weitzman},
  journal={Review of Environmental Economics and Policy},
  year={2011},
  volume={5},
  pages={275 - 292}
}
  • M. Weitzman
  • Published 2011
  • Economics
  • Review of Environmental Economics and Policy
  • In this article, I revisit some basic issues concerning structural uncertainty and catastrophic climate change. My target audience here are general economists, so this article could also be viewed as a somewhat less technical exposition that supplements my previous work. Using empirical examples, I argue that it is implausible that low-probability, high-negative impact events would not much influence an economic analysis of climate change. I then try to integrate the empirical examples and the… CONTINUE READING
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