![Sample our Environment & Sustainability journals, sign in here to start your access, latest two full volumes FREE to you for 14 days]({"type":"image" , "src" : "/sda/5935/TOC-Subject-Sample-2021-Environment-Sustainability.jpg"})
Notes
1. This article is based on a keynote lecture of the same title delivered at the 2014 annual conference of the Australian Agricultural and Resource Economics Society (AARES) in Port Macquarie, and at the 2014 annual conference of the Italian Association of Environmental and Resource Economists (IAERE) in Milan. This article discusses N. Stern, The Economics of Climate Change: The Stern Review (New York, NY: Cambridge University Press, 2007).
2. N. N. Taleb, The Black Swan: The Impact of the Highly Improbable (New York, NY: Random House, 2007).
3. I. Bremmer and P. Keat, “The Fat Tail: The Power of Political Knowledge for Strategic Investing,” Focus 1272 (2009).
4. J. M. Keynes, A Treatise on Probability (London, UK: MacMillan, 1921).
5. F. Knight, Risk, Uncertainty and Profit (New York, NY: Houghton Mifflin, 1921).
6. D. Ellsberg, “Risk, Ambiguity, and the Savage Axioms,” Quarterly Journal of Economics 75 (1961): 643–69.
7. A. Millner, S. Dietz, and G. M. Heal, “Scientific Ambiguity and Climate Policy,” Environmental and Resource Economics 55 (2013): 21–46.
8. C. Hope, “The Marginal Impact of CO2 from PAGE2002: An Integrated Assessment Model Incorporating the IPCC's Five Reasons for Concern,” Integrated Assessment Journal 6 (2006): 16–56.
9. International Monetary Fund, World Economic Outlook (International Monetary Fund, 2013), http://www.imf.org/external/pubs/ft/weo/2013/02/weodata/weoselagr.aspx.
10. G. Hinsliff, “GBP3.68 Trillion: The Price of Failing to Act on Climate Change,” The Observer (2006).
11. G. Wilson, “Doomsday Vision of Global Warming: Droughts, Floods and Economic Chaos,” The Daily Telegraph 4 (2006).
12. L. Clarke, K. Jiang, et al., “Contribution of Working Group III to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change,” in Climate Change 2014: Mitigation of Climate Change (IPCC, 2014), www.ipcc.ch.
13. N. Stern, “The Economics of Climate Change,” American Economic Review: Papers and Proceedings 98 (2008): 1–37.
14. S. Dietz, D. Anderson, N. Stern, C. Taylor, and D. Zenghelis, “Right for the Right Reasons: A Final Rejoinder on the Stern Review,” World Economics 8 (2007): 229–58.
15. M. L. Weitzman, “A Review of the Stern Review on the Economics of Climate Change,” Journal of Economic Literature 45 (2007): 703–24.
16. M. L. Weitzman, “On Modeling and Interpreting the Economics of Catastrophic Climate Change,” Review of Economics and Statistics 91 (2009): 1–19.
17. IPCC, “Contribution of Working Group I to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change.” in Climate Change 2007: The Physical Science Basis, ed. S. Solomon et al. (New York, NY: Cambridge University Press, 2007).
18. M. Meinshausen et al., “Greenhouse-Gas Emission Targets for Limiting Global Warming to 2C,” Nature 458 (2009): 1158–62.
19. IPCC, “Working Group I Contribution to the IPCC Fifth Assessment Report,” in Climate Change 2013: The Physical Science Basis (IPCC, 2013), www.ipcc.ch.
20. S. Dietz, “High Impact, Low Probability? An Empirical Analysis of Risk in the Economics of Climate Change,” Climatic Change 103 (2011): 519–41.
21. F. Ackerman, E. A. Stanton, and R. Bueno, “Fat Tails, Exponents, Extreme Uncertainty: Simulating Catastrophe in DICE,” Ecological Economics 69 (2010): 1657–65.
22. R. S. J. Tol, “Targets for Global Climate Policy: An Overview,” Journal of Economic Dynamics and Control 37 (2013): 911–28.
23. A. Millner, “On Welfare Frameworks and Catastrophic Climate Risks,” Journal of Environmental Economics and Management 65 (2013): 310–25.
24. A. A. Leiserowitz, “American Risk Perceptions: Is Climate Change Dangerous?,” Risk Analysis 25 (2005): 1433–42.
25. I. Lorenzoni and N. F. Pidgeon, “Public Views on Climate Change: European and USA Perspectives,” Climatic Change 77 (2006): 73–95.
26. A. Alberini, “What Is a Life Worth? Robustness of VSL Values From Contingent Valuation Surveys,” Risk Analysis 25 (2005): 783–800.
27. S. Athanassoglou and A. Xepapadeas, “Pollution Control With Uncertain Stock Dynamics: When, and How, to be Precautious,” Journal of Environmental Economics and Management 63 (2012): 304–20.
28. M. Funke and M. Paetz, “Environmental Policy Under Model Uncertainty: A Robust Optimal Control Approach,” Climatic Change 107 (2010): 225–39.
29. N. I. Al-Najjar and J. Weinstein, “The Ambiguity Aversion Literature: A Critical Assessment,” Economics and Philosophy 25 (2009): 249–84.
30. I. Gilboa, A. Postlewaite, and D. Schmeidler, “Is It Always Rational to Satisfy Savage's Axioms?,” Economics and Philosophy 25 (2009): 285–96.