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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Bibliographic Details
Main Author: Pindyck, Robert S. (Contributor)
Other Authors: Sloan School of Management (Contributor)
Format: Article
Language:English
Published: Oxford University Press, 2012-12-11T15:47:03Z.
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