Thursday, February 10, 2011

World Bank Report: Stern's Disaster Claims 'Completely Inconsistent With Empirical Evidence'

What this inherent uncertainty -- perhaps better characterized as inherent ignorance -- means of course is that strategies of robust decision making make good sense. That is to say, with respect to preparing for future extreme events, we should emphasize those strategies that are insensitive to uncertainties. Perhaps the most robust finding of each of these studies (and the broader literature) is that future damages will increase regardless of the the effects of human-caused climate change. Thus, improving adaptive capacity is a no-regrets course of action.

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