Replication data for: Averting Catastrophes: The Strange Economics of Scylla and Charybdis
- Martin, Ian W. R.
- Pindyck, Robert S.
AbstractFaced with numerous potential catastrophesâ€”nuclear and bioterrorism, mega-viruses, climate change, and othersâ€”which should society attempt to avert? A policy to avert one catastrophe considered in isolation might be evaluated in cost-benefit terms. But because society faces multiple catastrophes, simple cost-benefit analysis fails: even if the benefit of averting each one exceeds the cost, we should not necessarily avert them all. We explore the policy interdependence of catastrophic events, and develop a rule for determining which catastrophes should be averted and which should not. (JEL D61, Q51, Q54)
Is supplement to
DOI: 10.1257/aer.20140806 (Text)
Martin, Ian W. R., and Robert S. Pindyck. “Averting Catastrophes: The Strange Economics of Scylla and Charybdis.” American Economic Review 105, no. 10 (October 2015): 2947–85. https://doi.org/10.1257/aer.20140806.
- ID: 10.1257/aer.20140806 (DOI)
Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12