Lack of Historical Precedent as a Cause of Fundamental Uncertainty about Environmental Tipping Points
Fundamental uncertainty is a key characteristic when dealing with environmental tipping points. This uncertainty arises because societies that have survived long-term have necessarily avoided irreversible environmental collapse, meaning they have remained within a sustainable equilibrium. As a result, there is no historical experience or data regarding the process of such a collapse. This lack of information prevents the estimation of probabilities for crossing a critical environmental threshold, leading to fundamental uncertainty.
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Introduction to Macroeconomics Course
Ch.8 Economic dynamics: Financial and environmental crises - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
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Policy Shift from Optimization to Prevention due to Tipping Points
Lack of Historical Precedent as a Cause of Fundamental Uncertainty about Environmental Tipping Points
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