Climate Economics
The State of the Art
Summary:
The book provides a comprehensive overview of the evolving field of climate economics, examining the latest economic analyses of climate change impacts, mitigation strategies, and policy options. It critically assesses the relationship between economic theory and climate change, exploring economic models, uncertainties, and the valuation of climate risks to inform policy-making and sustainable development.
Key points:
1. Climate Science Complexity: Ackerman and Stanton note that the unpredictable and complex nature of climate change makes it hard to forecast with traditional economic models, often leading to an underestimation of risks and costs.
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