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  • 10 - On Climate Change and Related Risk

  • Paul Embrechts, Swiss Federal University (ETH), Zürich, Marius Hofert, The University of Hong Kong, Valérie Chavez-Demoulin, Université de Lausanne, Switzerland
  • Book:
    Risk Revealed
    Published online:
    05 April 2024
    Print publication:
    11 April 2024, pp 292-315

  • Summary

    In this chapter we end our more strenuous hike and start to enjoy a technically more relaxed stroll through the landscape of risk. An important feature throughout the book is that, for all the data examples given, we first start with a section “About the data”. In this way, you gain experience in finding and preparing the relevant data before starting with a statistical analysis. In order to discuss the consequences of climate change, we analyze the Hadley Centre Central England Temperature (HadCET) dataset. For the implications of a rise in temperature to the loss in volume of alpine glaciers, we apply the techniques learned to the case of the Lower Arolla Glacier in Switzerland. For an application to the realm of agricultural production, we look at the consequence of climate change to wine production. For this, we analyze data from a specific wine producer in France. We end this stroll with an interesting and perhaps somewhat surprising story of the astronomer Johannes Kepler. The story relates to his second marriage and the measurement of the volume of wine barrels.