Adaptation to Climate Change: Formulating Policy under Uncertainty

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.


Issue Date:
2012-01
Publication Type:
Working or Discussion Paper
Record Identifier:
http://ageconsearch.umn.edu/record/249390
PURL Identifier:
http://purl.umn.edu/249390
Total Pages:
18
JEL Codes:
G11; H43; O44; Q54




 Record created 2017-04-01, last modified 2018-01-23

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