IDEAS home Printed from https://ideas.repec.org/a/wsi/ccexxx/v04y2013i02ns2010007813500097.html
   My bibliography  Save this article

Temporal Investment In Climate Change Adaptation And Mitigation

Author

Listed:
  • WEIWEI WANG

    (Energy Biosciences Institute, University of Illinois at Urbana-Champaign, 1206 West Gregory Dr, Urbana, IL 61801, USA)

  • BRUCE A. McCARL

    (Department of Agricultural Economics, Texas A&M University, 309 Agriculture and Life Sciences Bldg, College Station, TX 77843-2124, USA)

Abstract

Increasingly there appears to be recognition of the need to simultaneously implement adaptation and mitigation. However, the optimal combination of adaptation and mitigation is an open question. The literature on this is rather small, and is inconsistent in conclusions. Here we explore the temporal optimal investment mix between adaptation and mitigation and their relative contributions to damage reduction. We do this using a conceptual framework that integrates mitigation and adaptation considering one time flow and persistent stock adaptation. We also consider unadaptable damages and investment competition. Results suggest that stock and flow adaptation are dominant damage reduction means in the first 120 years while mitigation dominates from thereon. We also find that the adaptation/mitigation mix changes markedly toward mitigation when climate change damages per unit atmosphericCO2concentration rises.

Suggested Citation

  • WEIWEI WANG & BRUCE A. McCARL, 2013. "Temporal Investment In Climate Change Adaptation And Mitigation," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 4(02), pages 1-18.
    • Handle: RePEc:wsi:ccexxx:v:04:y:2013:i:02:n:s2010007813500097
    DOI: 10.1142/S2010007813500097
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S2010007813500097
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S2010007813500097?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. de Bruin, Kelly Chloe, 2011. "Distinguishing Between Proactive (Stock) and Reactive (Flow) Adaptation," CERE Working Papers 2011:8, CERE - the Center for Environmental and Resource Economics.
    2. Samuel Fankhauser, 2010. "The costs of adaptation," Wiley Interdisciplinary Reviews: Climate Change, John Wiley & Sons, vol. 1(1), pages 23-30, January.
    3. Stern,Nicholas, 2007. "The Economics of Climate Change," Cambridge Books, Cambridge University Press, number 9780521700801.
    4. Bosello, Francesco & Eboli, Fabio & Pierfederici, Roberta, 2012. "Assessing the Economic Impacts of Climate Change. An Updated CGE Point of View," Climate Change and Sustainable Development 121700, Fondazione Eni Enrico Mattei (FEEM).
    5. World Bank, 2010. "Economics of Adaptation to Climate Change : Synthesis Report," World Bank Publications - Reports 12750, The World Bank Group.
    6. Francesco Bosello & Fabio Eboli & Roberta Pierfederici, 2012. "Assessing the Economic Impacts of Climate Change," Review of Environment, Energy and Economics - Re3, Fondazione Eni Enrico Mattei, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bréchet, Thierry & Hritonenko, Natali & Yatsenko, Yuri, 2016. "Domestic environmental policy and international cooperation for global commons," Resource and Energy Economics, Elsevier, vol. 44(C), pages 183-205.
    2. Charles Sims & Sarah Null & Josue Medellin-Azuara, 2017. "Hurry up or wait: The effect of climate change and variability on the timing of private adaptation," Working Papers 2017-04, University of Tennessee, Department of Economics.
    3. Bruce A McCarl & Thomas W Hertel, 2018. "Climate Change as an Agricultural Economics Research Topic," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 40(1), pages 60-78.
    4. Jianhong Mu & Anne Wein & Bruce McCarl, 2015. "Land use and management change under climate change adaptation and mitigation strategies: a U.S. case study," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 20(7), pages 1041-1054, October.
    5. Charles Sims & Sarah E. Null & Josue Medellin-Azuara & Augustina Odame, 2021. "Hurry Up Or Wait: Are Private Investments In Climate Change Adaptation Delayed?," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 12(04), pages 1-36, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anil Markandya, 2017. "State of Knowledge on Climate Change, Water, and Economics," World Bank Publications - Reports 26491, The World Bank Group.
    2. Sara Trærup & Jean Stephan, 2015. "Technologies for adaptation to climate change. Examples from the agricultural and water sectors in Lebanon," Climatic Change, Springer, vol. 131(3), pages 435-449, August.
    3. Valeria Costantini & Anil Markandya & Elena Paglialunga & Giorgia Sforna, 2018. "Impact and distribution of climatic damages: a methodological proposal with a dynamic CGE model applied to global climate negotiations," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 35(3), pages 809-843, December.
    4. Halkos, George, 2014. "The Economics of Climate Change Policy: Critical review and future policy directions," MPRA Paper 56841, University Library of Munich, Germany.
    5. Roson, Roberto & Damania, Richard, 2017. "The macroeconomic impact of future water scarcity," Journal of Policy Modeling, Elsevier, vol. 39(6), pages 1141-1162.
    6. Ciscar, Juan-Carlos & Dowling, Paul, 2014. "Integrated assessment of climate impacts and adaptation in the energy sector," Energy Economics, Elsevier, vol. 46(C), pages 531-538.
    7. Richard S J Tol, 2018. "The Economic Impacts of Climate Change," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 12(1), pages 4-25.
    8. Hjort, Ingrid, 2016. "Potential Climate Risks in Financial Markets: A Literature Overview," Memorandum 01/2016, Oslo University, Department of Economics.
    9. Rob Dellink & Elisa Lanzi & Jean Chateau, 2019. "The Sectoral and Regional Economic Consequences of Climate Change to 2060," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(2), pages 309-363, February.
    10. Richard S.J. Tol, 2016. "Dangerous Interference With The Climate System: An Economic Assessment," Working Paper Series 10016, Department of Economics, University of Sussex Business School.
    11. Benjamin Jones & Michael Keen & Jon Strand, 2013. "Fiscal implications of climate change," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 20(1), pages 29-70, February.
    12. Roberto Roson & Richard Damania, 2016. "Simulating the Macroeconomic Impact of Future Water Scarcity: an Assessment of Alternative Scenarios," IEFE Working Papers 84, IEFE, Center for Research on Energy and Environmental Economics and Policy, Universita' Bocconi, Milano, Italy.
    13. Eshita Gupta & Bharat Ramaswami & E. Somanathan, 2021. "The Distributional Impact of Climate Change: Why Food Prices Matter," Economics of Disasters and Climate Change, Springer, vol. 5(2), pages 249-275, July.
    14. T. Chatzivasileiadis & F. Estrada & M. W. Hofkes & R. S. J. Tol, 2019. "Systematic Sensitivity Analysis of the Full Economic Impacts of Sea Level Rise," Computational Economics, Springer;Society for Computational Economics, vol. 53(3), pages 1183-1217, March.
    15. Francesco Bosello & Carlo Orecchia & David A. Raitzer, 2016. "Decarbonization Pathways in Southeast Asia: New Results for Indonesia, Malaysia, Philippines, Thailand and Viet Nam," Working Papers 2016.75, Fondazione Eni Enrico Mattei.
    16. Radoslav S. Dimitrov, 2010. "Inside UN Climate Change Negotiations: The Copenhagen Conference," Review of Policy Research, Policy Studies Organization, vol. 27(6), pages 795-821, November.
    17. Richard Tol, 2015. "Bootstraps for Meta-Analysis with an Application to the Impact of Climate Change," Computational Economics, Springer;Society for Computational Economics, vol. 46(2), pages 287-303, August.
    18. Gregory Casey & Soheil Shayegh & Juan Moreno-Cruz & Martin Bunzl & Oded Galor & Ken Caldeira, 2019. "The Impact of Climate Change on Fertility," Working Papers 2019-2, Brown University, Department of Economics.
    19. Abrar Chaudhury, 2020. "Role of Intermediaries in Shaping Climate Finance in Developing Countries—Lessons from the Green Climate Fund," Sustainability, MDPI, vol. 12(14), pages 1-17, July.
    20. Tol, Richard S.J., 2019. "A social cost of carbon for (almost) every country," Energy Economics, Elsevier, vol. 83(C), pages 555-566.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:ccexxx:v:04:y:2013:i:02:n:s2010007813500097. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/cce/cce.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.