All pages with keywords: economic models

Researchers warn that world leaders are being misled by economic assessments of future climate change impacts

Press release 20 September, 2019

An international group of researchers today (20 September 2019) warn that policymakers have been receiving economic assessments of future climate change impacts which omit the biggest risks. The researchers on … read more »

The missing economic risks in assessments of climate change impacts

a policy publication by Ruth DeFries, Ottmar Edenhofer, Alex Halliday, Geoffrey Heal, Timothy Lenton, Michael Puma, James Rising, Johan Rockström, Alex C. Ruane, Hans Joachim Schellnhuber, David Stainforth, Nicholas Stern, Marco Tedesco, Bob Ward 20 September, 2019

Economic assessments of the potential future risks of climate change have been omitting or grossly underestimating many of the most serious consequences for lives and livelihoods because these risks are difficult to quantify precisely and lie outside of human experience. This policy insight identifies and draws attention to these ‘missing risks’ and discusses how populations might fare in light of their potential to adapt in the face of these risks. read more »

A Nobel Prize for the creator of an economic model that underestimates the risks of climate change

a commentary by Bob Ward 2 January, 2019

The 2018 Nobel Prize for Economics has focused a spotlight on the ongoing controversy surrounding estimates of the potential impacts of climate change. On 8 October, The Royal Swedish Academy … read more »

Public economics as if time matters: Climate change and the dynamics of policy

Public economics as if time matters: Climate change and the dynamics of policy

a research article by Nicholas Stern 28 June, 2018

Tony Atkinson played a crucial role in shaping modern public economics, but throughout his life challenged whether we were making the right assumptions and were building models which captured … read more »

Economic models significantly underestimate climate change risks

Press release 3 June, 2018

Policymakers are being misinformed by the results of economic models that underestimate the future risks of climate change impacts, according to a new journal paper by authors in the United … read more »