Adaptation to climate change: Formulating policy under uncertainty
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.Download Info
If 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 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.Length:
Date of creation: Jan 2012
Date of revision:
Handle: RePEc:een:ccepwp:1201
Contact details of provider:
Postal: Canberra ACT 0200
Phone: +61 2 6125 4705
Fax: +61 2 6125 5448
Email:
Web page: http://ccep.anu.edu.au/
More information through EDIRC
Related research
Keywords: 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)
References
References listed on IDEASPlease 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.:
- Randall,Alan, 2011. "Risk and Precaution," Cambridge Books, Cambridge University Press, number 9780521759199.
- 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.
- 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, 2010. "Classification, Detection and Consequences of Data Error: Evidence from the Human Development Index," NBER Working Papers 16572, National Bureau of Economic Research, Inc.
- John Quiggin & Robert G. Chambers, 2005. "Economists and uncertainty," Risk & Uncertainty Working Papers WP2R05, Risk and Sustainable Management Group, University of Queensland.
- 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.
- 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.
- 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.
- Randall,Alan, 2011. "Risk and Precaution," Cambridge Books, Cambridge University Press, number 9780521766159.
- 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.
Citations
Blog mentions
As 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
Lists
This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.Statistics
Access and download statisticsCorrections
When requesting a correction, please mention this item's handle: RePEc:een:ccepwp:1201For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (David Stern).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.

