- Consulting Editors
- List of Contributors
- The Macroeconomics of Global Warming
- Improving Climate Projections to Better Inform Climate Risk Management
- Energy Balance Climate Models, Damage Reservoirs, and The Time Profile of Climate Change Policy
- Economics of Environmental Regime Shifts
- Policy Scenarios in a Model of Optimal Economic Growth and Climate Change
- Adaptive Model-Predictive Climate Policies in a Multicountry Setting
- Prospects of Tools from Differential Games in the Study of Macroeconomics of Climate Change
- Fairness in Climate Negotiations: A Meta-Game Analysis Based on Community Integrated Assessment
- Climate Change and Second-Best Abatement in a Multiregion World with Endogenous Growth
- Global Warming and R&D-Based Growth in a Trade Model between Environmentally Sensitive and Environmentally Neglectful Countries
- Climate Change and Intergenerational Well-Being
- The Atmosphere as a Global Commons
- The Social Cost of Carbon
- Climate-Friendly Technological Change for Developing Countries
- Renewable Energy: Models, Implications, and Prospects
- Emission Trading Systems and Technological Innovation: A Random Matching Model
- The Reality of Nuclear Power: The Fukushima Experience and Its Impact
- Forecast-Based Pricing of Weather Derivatives
- Employment and Output Effects of Climate Policies
- Macroeconomic Effects of Renewable Energy and Energy Efficiency Policies with a Focus on Germany
- Stabilization of Earth’s Climate in the 21st Century by the Stabilization of Per Capita Consumption
- Does the Kyoto Protocol Intensify Carbon Leakage to China?
- Climate Thresholds, Weather Extremes, and Catastrophic Losses
- Climate Impacts on Agriculture: A Challenge to Complacency?
- The Legal Framework of Global Environment Governance on Climate Change: A Critical Survey
- Environment and Development Challenges: The Imperative of a Carbon Fee and Dividend
- The Need for Sustainable Development and a Carbon Market: Avoiding Extinction
- Name Index
- Subject Index
Abstract and Keywords
This chapter reviews our existing state of knowledge on the threshold behavior of Earth’s climate system, and examines fluctuations in weather system attributed to greenhouse-induced climate change. The chapter posits that the extreme perturbations observed in natural physical systems provide “weak indicators” of nontrivial losses from climate change. Even when conclusive scientific proof of the precise nature and extent of losses in the future may be patchy, and may fall short of providing the necessary conditions for justifying strong interventions, the “weak indicators” may provide the sufficient conditions for regulation. The notion of “precautionary principle” is invoked in this regard to argue that when probabilities of catastrophic losses are nonzero, no matter how small they are, it is sensible to err on the side of caution.
Lopamudra Banerjee, Assistant Professor of Economics, The New School.
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