Averting Catastrophes: The Strange Economics of Scylla and Charybdis

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A Third Wave in the Economics of Climate Change (2015, background): “…of uncertainty (Weitzman 1974; Hoel andKarp 2001), consequences of catastrophic outcomes on cost-benefit analysis of climate change (Weitzman 2011; Martin and Pindyck 2014), the effect of climate change on conflict (Hsiang et al. 2011; Cane et al. 2014) and on agriculture (Schlenker et al. 2005;…”
The Structure of Economic Modeling of the Potential Impacts of Climate Change: Grafting Gross Underestimation of Risk onto Already Narrow Science Models (2013, methodology): “China’s recorded GDP during the Great Leap Forward and Great Famine (1958–62) fell (– 4 to – 5% p.a.) but this does not convey the extreme loss of life (Bolt and van Zanden 2013) and social trauma; around 20 to 30 million or more people died (Dikötter 2010; Zhu 2012). Aggregation of lives into aggre”