low-probability, high-impact outcomes
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There's an interesting Earth System Dynamics Discussion paper presenting a a simple proposal to improve the contribution of IPCC WG1 to the assessment and communication of climate change risks. Essentially, one can estimate the risk of some outcome by considering the likelihood of that outcome multiplied by the impact of that outcome. This is illustrated…
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Studio AM - When thinking about risk, we have to keep in mind two things: Risk probability and risk impact. Risk probability reflects on what the chances are that a risk will
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