Fat tails, exponents, extreme uncertainty: Simulating catastrophe in DICE

By F. Ackerman, E. A. Stanton, Ramon Bueno. 2010

180 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Global and Planetary Change, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/802dbc3d3185dba79c9d8bd5ce7a6549d550b114

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. Antony Millner
2. E. A. Stanton
3. Christian P. Traeger
4. Svenn Jensen
5. Simon Dietz
6. Sivan Kartha
7. F. Ackerman
8. Geoffrey M. Heal

In Global and Planetary Change

1. Christian P. Traeger
2. Svenn Jensen
3. Antony Millner
4. Simon Dietz
5. F. Ackerman
6. Geoffrey M. Heal
7. E. A. Stanton
8. Sivan Kartha

In Renewable Energy, Sustainability and the Environment

1. Antony Millner
2. Christian P. Traeger
3. Svenn Jensen
4. Simon Dietz
5. F. Ackerman
6. Geoffrey M. Heal
7. E. A. Stanton
8. Sivan Kartha

Citations in the corpus

• Optimal climate change mitigation under long-term growth uncertainty: Stochastic integrated assessment and analytic findings (2014, methodology): “…predominantly addresses uncertainty by averaging deterministic Monte-Carlo runs (Richels et al. 2004, Hope 2006, Nordhaus 2008, Dietz 2009, Anthoff et al. 2009, Anthoff & Tol 2009, Ackerman et al. 2010, Interagency Working Group on Social Cost of Carbon 2010, Pycroft et al. 2011, Kopp et al. 2012).”
• Scientific Ambiguity and Climate Policy (2013, background): “Its axiomatic foundations have been developed by several authors (von Neumann and Morgenstern 1944; Savage 1954; Anscombe and Aumann 1963; Herstein and Milnor 1953).”
• The Influence of the Specification of Climate Change Damages on the Social Cost of Carbon (2012, unknown): “as mentioned previously, Ackerman et al. (2010) (ASB) treat the exponent b of temperature in the damage function as uncertain; higher values of b cause damages to increase more rapidly with temperature and represent states of the world more subject to catastrophic climate change.”
• Inside the integrated assessment models: Four issues in climate economics (2009, background): “9 See (Ackerman et al. 2008) for a more detailed critique of the DICE-2007 damage function.”
• Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model (2018, unknown): “The Beta distribution is exible enough to explore a wide range of scenarios and to genuinely account for fat-tailed climate risks (Ackerman et al., 2010; Weitzman, 2011; Pindyck, 2012).”