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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[...].

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File URL: http://www.lameta.univ-montp1.fr/Documents/DR2009-13.pdf
File Function: First version, 2009
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Paper provided by LAMETA, Universtiy of Montpellier in its series Working Papers with number 09-13.

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Length: 16 pages
Date of creation: Nov 2009
Date of revision: Nov 2009
Handle: RePEc:lam:wpaper:09-13

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  1. Graciela Chichilnisky, 2009. "Catastrophic risks," International Journal of Green Economics, Inderscience Enterprises Ltd, vol. 3(2), pages 130-141.
  2. Chichilnisky, Graciela, 2009. "Avoiding Extinction: Equal Treatment of the Present and the Future," Economics Discussion Papers 2009-8, Kiel Institute for the World Economy.
  3. Machina, Mark J, 1982. ""Expected Utility" Analysis without the Independence Axiom," Econometrica, Econometric Society, vol. 50(2), pages 277-323, March.
  4. 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 1622-68, December.
  5. Tversky, Amos & Wakker, Peter, 1995. "Risk Attitudes and Decision Weights," Econometrica, Econometric Society, vol. 63(6), pages 1255-80, November.
  6. 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.
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