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| de Bruin, Kelly C.; Dellink, Rob B.; Tol, Richard S.J.. |
| Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactions between the environment and the economy in the context of climate change. Although it has also long been recognized that adaptation is a powerful and necessary tool to combat the adverse effects of climate change, most IAMs have not explicitly included the option of adaptation in combating climate change. This paper adds to the IAM and climate change literature by explicitly including adaptation in an IAM, thereby making the trade-offs between adaptation and mitigation visible. Specifically, a theoretical framework is created and used to implement adaptation as a decision variable into the DICE model. We use our new AD-DICE model to derive the adaptation... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Integrated Assessment Modelling; Adaptation; Climate Change; Environmental Economics and Policy; Q25; Q28. |
| Ano: 2007 |
URL: http://purl.umn.edu/9548 |
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| de Bruin, Kelly C.; Dellink, Rob B.. |
| The dominant assumption in economic models of climate policy remains that adaptation will be implemented in an optimal manner. There are, however, several reasons why optimal levels of adaptation may not be attainable. This paper investigates the effects of suboptimal levels of adaptation, i.e. adaptation restrictions, on the composition and level of climate change costs and on welfare. Several adaptation restrictions are identified and then simulated in a revised DICE model, extended with adaptation (AD-DICE). We find that especially substantial over-investment in adaptation can be very harmful due to sharply increasing marginal adaptation costs. Furthermore the potential of mitigation to offset suboptimal adaptation is investigated. When adaptation is... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Integrated Assessment Modelling; Adaptation; Climate Change; Environmental Economics and Policy; Q25; Q28. |
| Ano: 2009 |
URL: http://purl.umn.edu/52546 |
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