Responding to Threats of Climate Change Mega-Catastrophes

Carolyn Kousky, Olga Rostapshova, Michael Toman () and Richard Zeckhauser
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Olga Rostapshova: Harvard University

Working Paper Series from Harvard University, John F. Kennedy School of Government

Abstract: There is a low but uncertain probability that climate change could trigger "mega-catastrophes," severe and at least partly irreversible adverse effects across broad regions. This paper first discusses the state of current knowledge and the defining characteristics of potential climate change mega-catastrophes. While some of these characteristics present difficulties for using standard rational choice methods to evaluate response options, there is still a need to balance the benefits and costs of different possible responses with appropriate attention to the uncertainties. To that end, we present a qualitative analysis of three options for mitigating the risk of climate mega-catastrophes--drastic abatement of greenhouse gas emissions, development and implementation of geoengineering, and large-scale ex ante adaptation--against the criteria of efficacy, cost, robustness, and flexibility. We discuss the composition of a sound portfolio of initial investments in reducing the risk of climate change mega-catastrophes.

JEL-codes: D81 Q54 (search for similar items in EconPapers)
Date: 2010-03
New Economics Papers: this item is included in nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://research.hks.harvard.edu/publications/work ... ?PubId=7175&type=WPN

Related works:
Working Paper: Responding to Threats of Climate Change Mega-Catastrophes (2010)
Working Paper: Responding to Threats of Climate Change Mega-Catastrophes (2009)
Working Paper: Responding to threats of climate change mega-catastrophes (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:harjfk:rwp10-008

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