 The value of informed agency for Torres Strait climate changeDaniel Grainger, Felecia Watkin-Lui and Karen Cheer Ecological Economics, 2021, vol. 180, issue C Abstract: The challenge of aggregating research information for Torres Strait exists. Currently, research is often done in isolation. Now, more than ever, the aggregation of Torres Strait research information is needed to address climate change. Information aggregation leads to informed agency. Informed agency leads to best possible climate change policies and actions. Information markets can facilitate informed agency and climate change project selection and valuation. We demonstrate the benefit of employing a particular information market approach to facilitate informing agents in a real world workshop setting. The workshop considers how best to address the Torres Strait climate change problem. Our a priori theoretical model motivates a specific hypothesis on the functional form of information uptake by agents (workshop participants). Analysis of collected data supports our hypothesis. The information market implies a valuation of climate change project information. It is estimated to be as valuable as a typical flood insurance premium. Keywords: Information market; Wicked problem; Torres Strait climate change; Informed agency; Decision support tools (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:180:y:2021:i:c:s0921800919317665 DOI: 10.1016/j.ecolecon.2020.106880 Access Statistics for this article Ecological Economics is currently edited by C. J. Cleveland More articles in Ecological Economics from Elsevier |
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