Files
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.