Ontology highlight
ABSTRACT:
SUBMITTER: Besley T
PROVIDER: S-EPMC6431216 | biostudies-literature | 2019 Mar
REPOSITORIES: biostudies-literature
Besley Timothy T Dixit Avinash A
Proceedings of the National Academy of Sciences of the United States of America 20180925 12
In this paper we present a simple model for assessing the willingness to pay for reductions in the risk associated with catastrophic climate change. The model is extremely tractable and applies to a multiregion world but with global externalities and has five key features: (<i>i</i>) Neither the occurrence nor the costs of a catastrophic event in any one year are precisely predictable; (<i>ii</i>) the probability of a catastrophe occurring in any one year increases as the levels of greenhouse ga ...[more]