In a series of papers, Martin Weitzman has proposed a Dismal Theorem. The general idea is that, under limited … to put the Dismal Theorem in context and examine the range of its applicability, with an application to catastrophic …-making under uncertainty. However, the conditions necessary for the Dismal Theorem to hold are limited and do not apply to a wide …

Weitzman's (2009) famous dismal theorem argues that “fat tails” in the distribution of warming may pose problems for …