Lectures
1 June, 2011

FEEM Lecture by Prof. Martin L. Weitzman, Harvard University, USA: "An Economist Grapples with Catastrophic Climate Change"


Where: Venice
Location:

Fondazione Eni Enrico Mattei
Island of San Giorgio Maggiore
30124 Venice

How to reach: Google map
Event's Timetable:

Wednesday, June 1 – h. 11.00

Information:

Events Office, events.ve@feem.it

Speaker:

Prof. Martin L. Weitzman, Harvard University, USA

Abstract

Catastrophic climate-change damages are characterized by deep structural uncertainties in the science combined with severe constraints on the ability to evaluate meaningfully the welfare losses. The critical question is: How fast does the probability of a catastrophe decline relative to the welfare impact of the catastrophe?

In this presentation I attempt to distill the problem down to an extraordinarily simplistic exercise in expected utility theory. Some mathematical economics is involved, but the ultra-simplification allows me to present the basic ideas in a relatively compact form that I hope will be accessible to an audience that knows at least a smattering of economics and probability.

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FEEM Lecture by Prof. Martin L. Weitzman, Harvard University, USA: "An Economist Grapples with Catastrophic Climate Change"

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