Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Risk, uncertainty, and climate adaptation Location: Lab 1 Session Chair: Christian Traeger, University of Oslo | |
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Temperature Shocks and Climate Change: A Conceptual Analysis University of Oslo, Norway This paper addresses the challenge of accurately modeling and estimat- ing climate change damages. Time-series approaches rely on weather shocks, while cross-sectional analyses capture climatic differences but suffer from omitted variable bias. Climate is defined as the statistical pattern of weather over time, allowing for adaptation to predictable changes, unlike unpredictable weather realizations. To assess econometric approaches, I integrate forward-looking adaptation into a detailed, quantitative integrated assessment model of climate change. I analyze how adaptation affects observed damages under time-series and cross-sectional approaches and compare this information with the requirements for calculating the social costs. While neither approach fully captures climate change costs, time-series methods focusing on weather shocks outperform cross-sectional methods in several key respects. | |