But you can get a
good estimate of sensitivity by remembering that if interest rates change by 1 percentage point, a bond's price will change in the opposite direction by about 1 percent for each year until maturity.
I applaud the people working on it, but it's very tough, and one reason why recent comments like «the additional decade of temperature data from 2000 onwards... can only work to
reduce estimates of sensitivity» from James Annan just don't fly.
As I said to Andy Revkin (and he published on his blog), the additional decade of temperature data from 2000 onwards (even the AR4 estimates typically ignored the post-2000 years) can only work to
reduce estimates of sensitivity, and that's before we even consider the reduction in estimates of negative aerosol forcing, and additional forcing from black carbon (the latter being very new, is not included in any calculations AIUI).
«My view on this is that the research needs to broaden out to have more of a focus on variability more generally so that a) we can predict the next few years better b) we can refine
our estimates of the sensitivity of the climate system to increases in greenhouse gas concentrations.»
Perhaps you believe that
estimates of sensitivity to a doubling of CO2 are too high?
Since we can not do controlled experiments, climate science is an OBSERVATIONAL science we can't put the climate in a beaker, we can only look at past temperatures and past forcings to CONSTRAIN
our estimate of sensitivity.
Low
estimates of sensitivity (e.g., ≈ 1.5 ◦ C) are therefore favored by contrarians, with the higher range of consensual IPCC estimates being ignored or labeled «alarmist.»
«Today's best
estimate of the sensitivity (between 2.7 degrees Fahrenheit and 8.1 degrees Fahrenheit) is no different, and no more certain, than it was 30 years ago.