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Adaptation to Climate Change: Formulating Policy under Uncertainty

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  • Leo Dobes

    ()
    (Crawford School of Public Policy, The Australian National University)

Abstract

Economists were able to formulate and recommend policy approaches for reducing emissions of greenhouse gases (mitigation) by drawing on an existing body of economic theory related to externalities. However, no comparably straightforward approach has yet emerged in the adaptation literature, possibly due to the diffuse nature of climatic effects that may occur in very diverse geographical locations. By acknowledging that the hallmark of future climate change effects is uncertainty, rather than readily identifiable and deterministic outcomes, it is possible to formulate coherent policy approaches. Recognising that there are differing degrees of uncertainty is a key aspect to making policy formulation more realistic.

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File URL: http://ccep.anu.edu.au/data/2012/pdf/wpaper/CCEP1201Dobes.pdf
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Bibliographic Info

Paper provided by Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University in its series CCEP Working Papers with number 1201.

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Date of creation: Jan 2012
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Handle: RePEc:een:ccepwp:1201

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Keywords: adaptation; climate change; risk; uncertainty; unknown unknowns;

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  1. Howard C. Kunreuther & Erwann O. Michel-Kerjan, 2009. "At War with the Weather: Managing Large-Scale Risks in a New Era of Catastrophes," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012820, December.
  2. Quiggin, John, 2005. "Economists and Uncertainty," Risk and Sustainable Management Group Working Papers, University of Queensland, School of Economics 151169, University of Queensland, School of Economics.
  3. Dobes, Leo, 2009. "Adapting More Cleverly To Climate Change By Using ‘Real Options’ To Address The Uncertainties," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia, Australian Agricultural and Resource Economics Society 47615, Australian Agricultural and Resource Economics Society.
  4. Hendrik Wolff & Howard Chong & Maximilian Auffhammer, 2011. "Classification, Detection and Consequences of Data Error: Evidence from the Human Development Index," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 121(553), pages 843-870, 06.
  5. Randall,Alan, 2011. "Risk and Precaution," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521766159.
  6. Roxana Julia & Faye Duchin, 2005. "World Trade as the Adjustment Mechanism of Agriculture to Climate Change," Rensselaer Working Papers in Economics, Rensselaer Polytechnic Institute, Department of Economics 0507, Rensselaer Polytechnic Institute, Department of Economics.
  7. Davis, Graham A., 1996. "Real options: Managerial flexibility and strategy in resource allocation : Lenos Trigeorgis The MIT Press, Cambridge, MA, 1996, xiii + 427 pp. (hardcover), ISBN 0-262-20102-X," Resources Policy, Elsevier, Elsevier, vol. 22(3), pages 218-220, September.
  8. Richard T. Woodward & Richard C. Bishop, 1997. "How to Decide When Experts Disagree: Uncertainty-Based Choice Rules in Environmental Policy," Land Economics, University of Wisconsin Press, vol. 73(4), pages 492-507.
  9. Randall,Alan, 2011. "Risk and Precaution," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521759199.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Climate Change Adaptation in Pacific island countries: Donors, Big Men, Real Options
    by Matthew Dornan in Development Policy Blog on 2012-01-31 19:00:17
  2. Top Three Crawford Working Papers in March 2012
    by David Stern in Stochastic Trend on 2012-04-02 10:14:00
  3. Crawford School Working Papers in January 2012
    by David Stern in Stochastic Trend on 2012-02-02 18:03:00

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