Professor Anastasios Xepapadeas (University of Bologna & Professor Emeritus, AUEB) delivered the first keynote lecture, “Cost–Benefit Analysis under Climate Change: Fat Tails and Extreme Events.”
His talk addressed how fat-tailed risks, deep uncertainty, and extreme climatic events challenge conventional BCA frameworks. He explored approaches that incorporate tail risks, ambiguity, and robust control into economic evaluation of climate policies, raising critical questions about discounting, risk preferences, and intergenerational equity in long-term climate decisions.
