Current models of climate change and cost-benefit analysis can rely heavily on the inclusion of extremely...

Current models of climate change and cost-benefit analysis can rely heavily on the inclusion of extremely low probability but very high cost (catastrophic and irrevocable ecosystem changes, for example) events. Do inclusion of these events increase the validity of the analysis or do they bias the results?

Expert Solution

Inclusion of extremely low probability events helps bring diversification, reduced errors, improvised accuracy, spread across data with uniformity, better transparency in insights and thus elimination of biasedness. Overall it brings comprehensive and drill down analysis and helps better forecasting and decision making in real time and alerts.

Rahul Sunny answered 2 years ago

What are the conclusions of cost-benefit analyses of global climate change? What are some potential problems...

What are the conclusions of cost-benefit analyses of global climate change? What are some potential problems with these analyses?

Briefly describe the Nordhaus and Stern models of the economics of climate change, how they are...

Briefly describe the Nordhaus and Stern models of the economics of climate change, how they are similar, and how they differ.

• Do a cost-benefit analysis of the selected healthcare organization. Explain your analysis of the cost-benefit...

• Do a cost-benefit analysis of the selected healthcare organization. Explain your analysis of the cost-benefit ratio and how it helps an organization. • Explain the impact of the cost-benefit ratio on recruitment and retention strategies of a healthcare organization. • Outline ways to improve the cost-benefit ratio of the selected healthcare organization. • Explain the role of HRM in ensuring the most competitive compensation package for employees. • Describe methods of improving the compensation package of the selected healthcare...

Research current change models used by organizations to facilitate change. Compare and contrast two models. Describe...

Research current change models used by organizations to facilitate change. Compare and contrast two models. Describe the overall approach and goal of each model. What are the similarities and differences?

Discuss the challenges associated with the cost and benefit estimation methods in a cost-benefit analysis of...

Discuss the challenges associated with the cost and benefit estimation methods in a cost-benefit analysis of pollution abatement. 5 MARKS

In the context of benefit – cost analysis what criteria can be used to classify benefits...

In the context of benefit – cost analysis what criteria can be used to classify benefits on one hand and costs on the other hand?

Outline the technique of cost benefit analysis and discuss how it can be used to inform...

Outline the technique of cost benefit analysis and discuss how it can be used to inform decision making in the public sector.

outline the technique of cost benefit analysis and discuss how it can be used to inform...

outline the technique of cost benefit analysis and discuss how it can be used to inform decision making in the public sector

explain project cost-benefit analysis?

What is cost-benefit analysis? How would you apply cost-benefit analysis to your decision to go to...

What is cost-benefit analysis? How would you apply cost-benefit analysis to your decision to go to college? What are the benefits and what are the costs of going to college? b. What happens to your analysis if the interest rate rises? What happens if the payoff period shrinks? Who is more likely to find college economically worthwhile: you for your 63-year-old professor? c. How would you apply cost-benefit analysis to environmental policy? What are the costs of pollution? What are...

Question