logo
ResearchBunny Logo
Temperature variability implies greater economic damages from climate change

Economics

Temperature variability implies greater economic damages from climate change

R. Calel, S. C. Chapman, et al.

This groundbreaking research by Raphael Calel, Sandra C. Chapman, David A. Stainforth, and Nicholas W. Watkins reveals how incorporating aleatory uncertainty into climate change cost assessments uncovers trillions of dollars in damages previously overlooked. Discover the importance of accounting for the unpredictable in economic models of climate change.

00:00
00:00
Playback language: English
Abstract
Many economic assessments of climate change costs rely on a few climate-economy models that only account for epistemic uncertainty (parameter estimation errors). This paper introduces a method to incorporate aleatory uncertainty (irreducible uncertainty even with known parameters) and demonstrates that even moderate variability adds trillions of dollars in previously unaccounted-for damages.
Publisher
Nature Communications
Published On
Oct 06, 2020
Authors
Raphael Calel, Sandra C. Chapman, David A. Stainforth, Nicholas W. Watkins
Tags
climate change
economic assessment
uncertainty
aleatory uncertainty
damages
epistemic uncertainty
cost analysis

Related Publications

Explore these studies to deepen your understanding of the subject.

Economic damages from Hurricane Sandy attributable to sea level rise caused by anthropogenic climate change
Earth Sciences

Economic damages from Hurricane Sandy attributable to sea level rise caused by anthropogenic climate change

B. H. Strauss, P. M. Orton, et al.

Personalising climate change—how activists from Fridays for Future visualise climate action on Instagram
Environmental Studies and Forestry

Personalising climate change—how activists from Fridays for Future visualise climate action on Instagram

D. Shim

Leading by example from high-status individuals: exploring a crucial missing link in climate change mitigation
Environmental Studies and Forestry

Leading by example from high-status individuals: exploring a crucial missing link in climate change mitigation

S. Westlake, C. Demski, et al.

Analysis of social welfare impact of crop pest and disease damages due to climate change: a case study of dried red peppers
Agriculture

Analysis of social welfare impact of crop pest and disease damages due to climate change: a case study of dried red peppers

D. Han, D. Yoo, et al.

Listen, Learn & Level Up
Over 10,000 hours of research content in 25+ fields, available in 12+ languages.
No more digging through PDFs, just hit play and absorb the world's latest research in your language, on your time.
listen to research audio papers with researchbunny