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Adaptation to Climate Change: Formulating Policy under Uncertainty

Leo Dobes ()

CCEP Working Papers from Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University

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.

Keywords: adaptation; climate change; risk; uncertainty; unknown unknowns (search for similar items in EconPapers)
JEL-codes: G11 H43 O44 Q54 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene and nep-env
Date: 2012-01
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Working Paper: Adaptation to Climate Change: Formulating Policy under Uncertainty (2012) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:een:ccepwp:1201

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