PUP-3002 Lecture Notes - Lecture 14: Kyoto Protocol
5 Apr 2018
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Document Summary
Will policies be risk averse or risk acceptant when it comes to the possible costs and benefits of regulation. People and policymakers have divergent levels of risk acceptance which affects decision making. Cost-benefit analysis, risk orientation and orientation toward scientific uncertainty can be manipulated by political interests from all points on the spectrum. Pro-regulation interests will often accentuate the potential risks of a certain pollutant, while minimizing the benefits that continued use would bring. Pro regulation interests will also be more likely to be risk averse and are more comfortable with estimates of uncertainty. Anti-regulation interests emphasize the benefits to society of continued use of the pollutant and often highlight the costs of coming into compliance with the specific regulation. Climate refers to variations in average weather over long to extremely long periods of time. Climate change refers to long-term variations in weather patterns. The long-run temperature of the earth has warmed approximately 1. 5f over the past.
