The Need for Multiple Types of Information to Inform Climate Change Assessment

Information on ecosystem characteristics as well as economic statistics is needed to more fully inform decision makers on the impacts of climate change on human well-being. Climate change risks involve potentially large and irreversible as well as...

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Bibliographic Details
Main Author: Toman, Michael
Format: Policy Research Working Paper
Language:English
en_US
Published: World Bank Group, Washington, DC 2014
Subjects:
AIR
CO
CO2
ICE
PP
Online Access:http://documents.worldbank.org/curated/en/2014/11/20356974/need-multiple-types-information-inform-climate-change-assessment
http://hdl.handle.net/10986/20622
Description
Summary:Information on ecosystem characteristics as well as economic statistics is needed to more fully inform decision makers on the impacts of climate change on human well-being. Climate change risks involve potentially large and irreversible as well as highly uncertain impacts that need to be evaluated with information that complements cost-benefit analysis. Information on the irreversibility of impacts also is relevant for evaluating implications for intergenerational equity. In addition, climate change is subject to a large degree of Knightian uncertainty, making it useful to understand how individuals perceive and evaluate climate change risks.