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 ...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
Human behaviour is commonly optimised in economic models of adaptation to climate change. These mode...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
The dominant assumption in economic models of climate policy remains that adaptation will be impleme...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
Human behaviour is commonly optimised in economic models of adaptation to climate change. These mode...
Integrated Assessment Models (IAMS) have helped us over the past decade to understand the interactio...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...
It has become commonly accepted that a successful climate strategy should compound mitigation and ad...