Economic models significantly underestimate climate change risks
https://www.sciencedaily.com/releases/2018/06/180603193616.htm
The paper in the Review of Environmental Economics and Policy calls for the Intergovernmental Panel on Climate Change (IPCC) to improve how it analyses the results of economic modelling as it prepares its Sixth Assessment Report, due to be published in 2021 and 2022.
The paper's authors, Thomas Stoerk of the Environmental Defense Fund, Gernot Wagner of the Harvard University Center for the Environment and Bob Ward of the ESRC Centre for Climate Change Economics and Policy at the London School of Economics and Political Science, draw attention to "mounting evidence that current economic models of the aggregate global impacts of climate change are inadequate in their treatment of uncertainty and grossly underestimate potential future risks."