May 21, 2024

What baseball, poker and the stock market can teach us about climate change

Sam Smith, 2009 - One thing is clear as the climate change debate chugs along: we need to teach math better in our schools. And it wouldn't hurt if journalism schools taught some math as well.  For example, it is apparent that those who argue that one good snow storm destroys the case for climate change never got a good introduction to odds and averages.

An exception seems to be baseball. I have never heard a critic of ecological theory argue that a good hitter's failure to get to base in a particular game  indicates that he should be immediately traded. Sometimes it's because he swings badly and sometimes because the pitch is low and outside, but nobody says that's proof he's a bad hitter. Yet, have one cold winter and they want to dump climate change.

I'm mystified by this. How can a culture that understand formulas like those used in baseball  have such a hard time with temperature variations? My only explanation is that sports writers have done a far better job getting people to understand (or just accept) things like odds and averages than scientists or journalists. The unfortunate thing is that too many seem to think they only apply to sports.

There are some other people good at figuring out odds and averages, such as poker players. Over a decade ago, I offered a poker player's guide to environmental risk assessment. Key points included:

1. Figure the stakes as well as the odds.

2. The odds of something happening at any moment are not the same as the odds of something ever happening. In ecological calculations - especially ones in which the downside could ruin your whole millennium - it is the latter odds that are important.

3. When confronted with conflicting odds, ask what happens if each projection is wrong. Temporary job loss because of environmental restrictions may come and go, but the loss of the ozone layer is something you can have forever.

4. When confronted with conflicting odds, remember that you don't have to play the game. There are other things to do with your time - or with the economy or with the environment - that may produce better results. Thus, instead of playing poker you could be making love. Or instead of getting jobs from some air or water degrading activity, the same jobs could come from more benign industry such as retrofitting a whole city for solar energy.

5. Don't let anyone - in industry, government, or the media - define an "acceptable level of risk" for your own death or disease. They may not have the same vested interest in the right answer as you do.

6. If the stakes are too high, the game is not worth it. If you can't stand the pain, don't attempt the gain.

Lately I've been wondering how a successful stock market investor might figure out whether global warming was a good investment. But most stock market charts look much like climate records kept by NASA - an awful lot of detail in a small space that is hard for the impatient or untrained to figure out.

And, of course, to those who think climate change is a purely ideological or theological issue, none of this means much.

1 comment:

Greg Gerritt said...

If they wanted to dump climate change due to one cold winter they would have to go back in time at least 30 years. Every winter since has been warmer than the 1950 to 1980 average. We will never in my lifetime see a cold winter if we do not shut off the fossil fuel spigot now.