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Asteroids: Assessing Catastrophic Risks

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  • Graciela Chichilnisky
  • Peter Eisenberger

Abstract

Sixty five million years ago an asteroid crashed into earth Global winds distributed the dust throughout the atmosphere, blocking sunlight, and many lifeforms that relied on the sun eventually perished. In a short period of time, many experts believe, the mighty dinosaurs that dominated our planet went extinct. Realistically the same fate awaits us. Over 99.99% of the species that have ever existed are now extinct [13] [12]. If our species survives long enough, we will be exposed to an asteroid and could suffer the same fate as the dinosaurs. The data suggests that asteroids of that caliber will hit our planet on average once every 100 million years [12]. The last one was 65 million years ago. Under current conditions, when the next one hits the earth, humans and many other species could go extinct[...].

Suggested Citation

  • Graciela Chichilnisky & Peter Eisenberger, 2009. "Asteroids: Assessing Catastrophic Risks," Working Papers 09-13, LAMETA, Universtiy of Montpellier, revised Nov 2009.
    • Handle: RePEc:lam:wpaper:09-13
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    File URL: http://www.lameta.univ-montp1.fr/Documents/DR2009-13.pdf
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    References listed on IDEAS

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    1. Chichilnisky, Graciela, 2009. "Avoiding extinction: equal treatment of the present and the future," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-25.
    2. Machina, Mark J, 1989. "Dynamic Consistency and Non-expected Utility Models of Choice under Uncertainty," Journal of Economic Literature, American Economic Association, vol. 27(4), pages 1622-1668, December.
    3. Chichilnisky, Graciela, 2000. "An axiomatic approach to choice under uncertainty with catastrophic risks," Resource and Energy Economics, Elsevier, vol. 22(3), pages 221-231, July.
    4. Machina, Mark J, 1982. ""Expected Utility" Analysis without the Independence Axiom," Econometrica, Econometric Society, vol. 50(2), pages 277-323, March.
    5. Graciela Chichilnisky, 2009. "Catastrophic risks," International Journal of Green Economics, Inderscience Enterprises Ltd, vol. 3(2), pages 130-141.
    6. Tversky, Amos & Wakker, Peter, 1995. "Risk Attitudes and Decision Weights," Econometrica, Econometric Society, vol. 63(6), pages 1255-1280, November.
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    Cited by:

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    3. Matthew Rendall, 2022. "Nuclear war as a predictable surprise," Global Policy, London School of Economics and Political Science, vol. 13(5), pages 782-791, November.

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