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Economists are often accused of being two handed (ref: Harry Truman). But predictions of the increase in the price of corn by 2050 ranging zero to 100 percent are discomfiting, even to the most ambidextrous of them. This presentation reports on the recently completed AgMIP global economic model inter comparison exercise that attempted to provide explanations for this range, from different perspectives on the future to model structure. It also highlights what¹s missing in all of our work and why this makes the high end of the results most plausible.
Seminars are live webcast: http://www.fin.ucar.edu/it/mms/ml-live.htm