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large-magnitude events? How would alternative decision-making frameworks approach
these questions (Millner, 2013)? How should society consider weighting the foregoing
of current consumption to avoid uncertain, presumably low, but unknown probabilities
of future catastrophic climate change (Summers and Zeckhauser, 2008)?
10.5.2 Long-term Damages and the Discount Rate
Damages over decades and even centuries characterize an array of environmental
problems. The emission of ozone-depleting substances, such as chlorofluorocarbons,
degraded the stratospheric ozone layer, which absorbs some incoming ultraviolet radia ...