Calel, Raphael, Chapman, Sandra C., Stainforth, David A. and Watkins, Nicholas W. (2021) Data for Temperature variability implies greater economic damages from climate change. [Dataset]

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Abstract

A number of influential assessments of the economic cost of climate change rely on just a small number of coupled climate–economy models. A central feature of these assessments is their accounting of the economic cost of epistemic uncertainty—that part of our uncertainty stemming from our inability to precisely estimate key model parameters, such as the Equilibrium Climate Sensitivity. However, these models fail to account for the cost of aleatory uncertainty—the irreducible uncertainty that remains even when the true parameter values are known. We show how to account for this second source of uncertainty in a physically well-founded and tractable way, and we demonstrate that even modest variability implies trillions of dollars of previously unaccounted for economic damages.

Item Type:	Dataset
Subjects:	H Social Sciences > HB Economic Theory Q Science > QC Physics
Divisions:	Faculty of Science, Engineering and Medicine > Science > Physics
Type of Data:	Modelling data
Library of Congress Subject Headings (LCSH):	Climatic changes -- Economic aspects, Risk -- Mathematical models, Measurement uncertainty (Statistics)
Publisher:	Harvard Dataverse
Official Date:	8 March 2021
Dates:	Date Event 8 March 2021 Created
Status:	Not Peer Reviewed
Publication Status:	Published
Media of Output (format):	.R .m
Access rights to Published version:	Open Access
Copyright Holders:	University of Warwick
Description:	Data record consists of 22 files, including raw Matlab data in .R and .m format, as well as an accompanying readme file. Further information on specific data files can be found in the accompanying readme file.
RIOXX Funder/Project Grant:	Project/Grant ID RIOXX Funder Name Funder ID UNSPECIFIED Grantham Research Institute on Climate Change and the Environment, London School of Economics and Political Science http://dx.doi.org/10.13039/100012731 ES/R009708/1 Centre for Climate Change Economics and Policy, University of Leeds http://dx.doi.org/10.13039/100012730 Scholarship Fulbright Association http://dx.doi.org/10.13039/100010629 ST/T000252/1 [STFC] Science and Technology Facilities Council http://dx.doi.org/10.13039/501100000271
Related URLs:	Related item in WRAP Other
Contributors:	Contribution Name Contributor ID Depositor Calel, Raphael UNSPECIFIED

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