Climate Risk Management: From Decision-Making to Basic Research and Back

The Institute of Economics will hold a webinar meeting as part of its Seminar Series on Tuesday, May 18, 2021: Klaus Keller from Penn State University will present the paper "Climate Risk Management: From Decision-Making to Basic Research and Back".

Abstract:

Climate change drives considerable risks. Designing strategies to manage these risks poses wicked problems that require mission-oriented basic research. One key challenge is that projections about the coupled natural-human systems are subject to deep and dynamic uncertainties. In addition, stakeholders and decision-makers often have conflicting objectives. This presentation discusses approaches to improve the design of risk management strategies using the example of flood-risk management. The presentation reviews approaches to (i) improve our quantitative understanding of the coupled natural-human systems dynamics, (ii) use this information to improve the design of risk management strategies, and (iii) use the insights from the decision-analyses to inform the design of mission-oriented basic research.

All interested participants are welcome to join online at the following link. External participants need to contact the organisers via email to grant access to the seminar.