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.
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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
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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)
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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
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