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Data for Temperature variability implies greater economic damages from climate change
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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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Official URL: https://doi.org/10.7910/DVN/5AJGH4
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 | |||||||||||||||
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| Subjects: | H Social Sciences > HB Economic Theory Q Science > QC Physics |
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| 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: | University of Warwick, Department of Physics | |||||||||||||||
| Official Date: | 8 March 2021 | |||||||||||||||
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| Status: | Not Peer Reviewed | |||||||||||||||
| Publication Status: | Published | |||||||||||||||
| Media of Output (format): | .R .m | |||||||||||||||
| Access rights to Published version: | Open Access (Creative Commons) | |||||||||||||||
| 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. |
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