Adaptation to climate change: Formulating policy under uncertainty
AbstractEconomists 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper 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.
Date of creation: Jan 2012
Date of revision:
Contact details of provider:
Postal: Crawford Building, Lennox Crossing, Building #132, Canberra ACT 0200
Phone: +61 2 6125 4705
Fax: +61 2 6125 5448
Web page: http://ccep.anu.edu.au/
More information through EDIRC
adaptation; climate change; risk; uncertainty; unknown unknowns;
Find related papers by JEL classification:
- G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
- H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
- O44 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-01-18 (All new papers)
- NEP-ENE-2012-01-18 (Energy Economics)
- NEP-ENV-2012-01-18 (Environmental Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hendrik Wolff & Howard Chong & Maximilian Auffhammer, 2010.
"Classification, Detection and Consequences of Data Error: Evidence from the Human Development Index,"
NBER Working Papers
16572, National Bureau of Economic Research, Inc.
- 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, vol. 121(553), pages 843-870, 06.
- Hendrik Wolff & Howard Chong & Maximilian Auffhammer, 2011. "Classification, Detection and Consequences of Data Error: Evidence from the Human Development Index," Working Papers UWEC-2008-10-P, University of Washington, Department of Economics.
- Randall,Alan, 2011. "Risk and Precaution," Cambridge Books, Cambridge University Press, number 9780521766159, December.
- 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, January.
- John Quiggin & Robert G. Chambers, 2005.
"Economists and uncertainty,"
Risk & Uncertainty Working Papers
WP2R05, Risk and Sustainable Management Group, University of Queensland.
- Quiggin, John, 2005. "Economists and Uncertainty," Risk and Sustainable Management Group Working Papers 151169, University of Queensland, School of Economics.
- Randall,Alan, 2011. "Risk and Precaution," Cambridge Books, Cambridge University Press, number 9780521759199, December.
- 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.
- 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 47615, Australian Agricultural and Resource Economics Society.
- Roxana Julia & Faye Duchin, 2005. "World Trade as the Adjustment Mechanism of Agriculture to Climate Change," Rensselaer Working Papers in Economics 0507, Rensselaer Polytechnic Institute, Department of Economics.
- 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, vol. 22(3), pages 218-220, September.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- 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
- Top Three Crawford Working Papers in March 2012
by David Stern in Stochastic Trend on 2012-04-02 10:14:00
- Crawford School Working Papers in January 2012
by David Stern in Stochastic Trend on 2012-02-02 18:03:00
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (David Stern).
If references are entirely missing, you can add them using this form.