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Plan Or React? Analysis Of Adaptation Costs And Benefits Using Integrated Assessment Models

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Author Info

  • SHARDUL AGRAWALA

    ()
    (OECD, 2, rue André Pascal - 75775 Paris Cedex 16, France)

  • FRANCESCO BOSELLO

    ()
    (University of Milan and Fondazione Eni Enrico Mattei, Isola di San Giorgio Maggiore, 30124 Venezia, Italy)

  • CARLO CARRARO

    ()
    (University of Venice, CEPR, CESifo and Fondazione Eni Enrico Mattei, Isola di San Giorgio Maggiore, 30124 Venezia, Italy)

  • KELLY DE BRUIN

    ()
    (Umeå universitet, SE-901 87 Umeå, Sweden)

  • ENRICA DE CIAN

    ()
    (Fondazione Eni Enrico Mattei, Isola di San Giorgio Maggiore, 30124 Venezia, Italy)

  • ROB DELLINK

    ()
    (OECD, 2, rue André Pascal - 75775 Paris Cedex 16, France)

  • ELISA LANZI

    ()
    (OECD, 2, rue André Pascal - 75775 Paris Cedex 16, France)

Abstract

This report examines adaptation and mitigation within an integrated framework. Global and regional costs of adaptation are assessed dynamically and the resulting benefits are quantified. This is accomplished by developing a framework to incorporate adaptation as a policy variable within three Integrated Assessment Models (IAMs); the global Dynamic Integrated model of Climate and the Economy (DICE), the Regional Integrated model of Climate and the Economy (RICE), and the World Induced Technical Change Hybrid (WITCH) model. The framework developed here takes into account investments in reactive adaptation and in adaptation "stocks", as well as investments in building adaptive capacity. This report presents the first inter-model comparison of results on adaptation costs using the emerging category of adaptation-IAMs. Results show that least-cost policy response to climate change will need to involve subsantial amounts of mitigation efforts, investments in adaptation stock, reactive adaptation measures and adaptive capacity to limit the remaining damages.

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Bibliographic Info

Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal Climate Change Economics.

Volume (Year): 02 (2011)
Issue (Month): 03 ()
Pages: 175-208

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Handle: RePEc:wsi:ccexxx:v:02:y:2011:i:03:p:175-208

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Keywords: Integrated assessment modeling; adaptation; adaptive capacity; climate change;

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As found on the RePEc Biblio, the curated bibliography for Economics:
  1. > Environmental and Natural Resource Economics > Climate economics > Adaptation
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Cited by:
  1. Francesco Bosello & Enrica De Cian, 2013. "Climate Change, Sea Level Rise, and Coastal Disasters. A Review of Modeling Practices," Working Papers 2013.104, Fondazione Eni Enrico Mattei.
  2. Karen Fisher-Vanden & Ian Sue Wing & Elisa Lanzi & David Popp, 2013. "Modeling climate change feedbacks and adaptation responses: recent approaches and shortcomings," Climatic Change, Springer, vol. 117(3), pages 481-495, April.
  3. Tyler Felgenhauer & Mort Webster, 2014. "Modeling adaptation as a flow and stock decision with mitigation," Climatic Change, Springer, vol. 122(4), pages 665-679, February.
  4. Bosello, Francesco & De Cian, Enrica & Ferranna, Licia, 2012. "Choosing the optimal climate change policy in the presence of catastrophic risk," EIB Working Papers 2012/03, European Investment Bank (EIB).

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