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Protection versus Retreat: The Economic Costs of Sea-Level Rise

Author

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  • S Fankhauser

    (Centre for Social and Economic Research on the Global Environment, University College London and University of East Anglia, Gower Street, London WC1E 6BT)

Abstract

The author analyses the relative role of protection (or damage mitigation) expenditures within the total costs associated with raised sea levels induced by climate change. A rule of thumb is derived to approximate the optimal level of protection. Economic efficiency requires that protection expenditures are designed such that the sum of protection costs plus remaining land-loss damage is minimised. The optimal protection level will depend on the relative importance of dryland loss compared with the costs of accelerated wetland loss plus protection expenditures. This framework is then used to estimate the damage-cost functions associated with a sea-level rise for the countries of the OECD.

Suggested Citation

  • S Fankhauser, 1995. "Protection versus Retreat: The Economic Costs of Sea-Level Rise," Environment and Planning A, , vol. 27(2), pages 299-319, February.
    • Handle: RePEc:sae:envira:v:27:y:1995:i:2:p:299-319
    DOI: 10.1068/a270299
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    References listed on IDEAS

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    3. William D. Nordhaus, 1992. "The 'DICE' Model: Background and Structure of a Dynamic Integrated Climate-Economy Model of the Economics of Global Warming," Cowles Foundation Discussion Papers 1009, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:

    1. Changxin Liu & Hailing Zhang & Zheng Wang, 2019. "Study on the Functional Improvement of Economic Damage Assessment for the Integrated Assessment Model," Sustainability, MDPI, vol. 11(5), pages 1-18, February.
    2. Steven A. McAlpine & Jeremy R. Porter, 2018. "Estimating Recent Local Impacts of Sea-Level Rise on Current Real-Estate Losses: A Housing Market Case Study in Miami-Dade, Florida," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 37(6), pages 871-895, December.
    3. Sierra Woodruff & Todd K. BenDor & Aaron L. Strong, 2018. "Fighting the inevitable: infrastructure investment and coastal community adaptation to sea level rise," System Dynamics Review, System Dynamics Society, vol. 34(1-2), pages 48-77, January.
    4. Pierre Morand & Amaga Kodio & Neil Andrew & Famory Sinaba & Jacques Lemoalle & Christophe Béné, 2012. "Vulnerability and adaptation of African rural populations to hydro-climate change: experience from fishing communities in the Inner Niger Delta (Mali)," Climatic Change, Springer, vol. 115(3), pages 463-483, December.
    5. Thierry Bréchet & Natali Hritonenko & Yuri Yatsenko, 2013. "Adaptation and Mitigation in Long-term Climate Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 55(2), pages 217-243, June.
    6. Jonathan Pycroft & Jan Abrell & Juan-Carlos Ciscar, 2016. "The Global Impacts of Extreme Sea-Level Rise: A Comprehensive Economic Assessment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(2), pages 225-253, June.
    7. Kopp, Robert E. & Golub, Alexander & Keohane, Nathaniel O. & Onda, Chikara, 2012. "The influence of the specification of climate change damages on the social cost of carbon," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 6, pages 1-40.
    8. Delavane B. Diaz, 2016. "Estimating global damages from sea level rise with the Coastal Impact and Adaptation Model (CIAM)," Climatic Change, Springer, vol. 137(1), pages 143-156, July.
    9. Xinyu Fu & Jie Song, 2017. "Assessing the Economic Costs of Sea Level Rise and Benefits of Coastal Protection: A Spatiotemporal Approach," Sustainability, MDPI, vol. 9(8), pages 1-14, August.
    10. Yuri Yatsenko, 2015. "Models and Games with Adaptation and Mitigation," CEEES Paper Series CE3S-01/15, European University at St. Petersburg, Department of Economics.
    11. Jochen Hinkel & Detlef Vuuren & Robert Nicholls & Richard Klein, 2013. "The effects of adaptation and mitigation on coastal flood impacts during the 21st century. An application of the DIVA and IMAGE models," Climatic Change, Springer, vol. 117(4), pages 783-794, April.
    12. Bosello, Francesco & De Cian, Enrica, 2014. "Climate change, sea level rise, and coastal disasters. A review of modeling practices," Energy Economics, Elsevier, vol. 46(C), pages 593-605.
    13. Anthony Bonen & Willi Semmler & Stephan Klasen, 2014. "Economic Damages from Climate Change: A Review of Modeling Approaches," SCEPA working paper series. 2014-3, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.

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