The Need for Multiple Types of Information to Inform Climate Change Assessment

Information on ecosystem characteristics
as well as economic statistics is needed to more fully
inform decision makers on the impacts of climate change on
human well-being. Climate change risks involve potentially
large and irreversible as well as highly uncertain impacts
that need to be evaluated with information that complements
cost-benefit analysis. Information on the irreversibility of
impacts also is relevant for evaluating implications for
intergenerational equity. In addition, climate change is
subject to a large degree of Knightian uncertainty, making
it useful to understand how individuals perceive and
evaluate climate change risks.