60 Minutes With Nobel Laureate Kenneth J. Arrow

Climate change is one of the defining issues of our times. However, there is little consensus among economists on the issue of impacts of climate change, and discounting and uncertainty are two key reasons why. On March 27 2008, 1972 Nobel Laureate in Economics, Kenneth Arrow, and Professor Emeritus at Stanford University shared his views on discounting for projects that have payoffs in the deep and uncertain future. Thomas Schelling, 2005 Nobel Laureate in Economics, and Distinguished University Professor, University of Maryland participated by providing critical commentary on Arrow’s presentation. Hosted by the Global Facility for Disaster Reduction and Recovery, this event is part of a series designed to contribute ideas by prominent individuals such as Kenneth Arrow, Richard Posner, Thomas Schelling, John Seo, Martin Weitzman, and others on selected themes of the Assessment on the economics of disasters.