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dc.contributor.authorIkefuji, Masako
dc.contributor.authorMagnus, Jan R.
dc.contributor.authorVasnev, Andrey L.
dc.date.accessioned2023-11-03T03:55:22Z
dc.date.available2023-11-03T03:55:22Z
dc.date.issued2023en_AU
dc.identifier.otherC11, C52, C83, Q54
dc.identifier.urihttps://hdl.handle.net/2123/31835
dc.description.abstractIn Bayesian theory, the data together with the prior produce a posterior. We show that it is also possible to follow the opposite route, that is, to use data and posterior information (both of which are observable) to reveal the prior (which is not observable). We then apply the theory to equilibrium climate sensitivity as reported by the Intergovernmental Panel on Climate Change in an attempt to get some insight into the prior beliefs of the IPCC scientists. It appears that the data contain much less information than one might think, due to the presence of correlation. We conclude that the prior in the fifth IPCC report was too low, and in the sixth report too high.en_AU
dc.language.isoenen_AU
dc.publisherBusiness Analytics.en_AU
dc.subjectRevealed prioren_AU
dc.subjectclimate sensitivityen_AU
dc.subjectdata uncertaintyen_AU
dc.subjectcombining informationen_AU
dc.subjectcorrelation; IPCCen_AU
dc.titleThe role of data and priors in estimating climate sensitivityen_AU
dc.typeWorking Paperen_AU
usyd.facultySeS faculties schools::The University of Sydney Business School::Discipline of Business Analyticsen_AU
workflow.metadata.onlyNoen_AU


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