The Value Of Flexibility In Adapting To Climate Change: A Real Options Analysis Of Investments In Coastal Defense
Author
Abstract
Suggested Citation
DOI: 10.1142/S201000781250008X
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- R. J. Nicholls & S. Hanson & Celine Herweijer & Nicola Patmore & Stéphane Hallegatte & Jan Corfee-Morlot & Jean Château & Robert Muir-Wood, 2008. "Ranking Port Cities with High Exposure and Vulnerability to Climate Extremes: Exposure Estimates," OECD Environment Working Papers 1, OECD Publishing.
- Leo Dobes, 2010.
"Notes on Applying 'Real Options' to Climate Change Adaptation Measures, with Examples from Vietnam,"
CCEP Working Papers
0710, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
- Dobes, Leo, 2010. "Notes on applying ‘real options’ to climate change adaptation measures, with examples from Vietnam," Working Papers 249384, Australian National University, Centre for Climate Economics & Policy.
- Leo Dobes, 2010. "Notes on Applying Real Options to Climate Change Adaptation Measures, with examples from Vietnam," Environmental Economics Research Hub Research Reports 1075, Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University.
- Dobes, Leo, 2010. "Notes on Applying Real Options to Climate Change Adaptation Measures, with examples from Vietnam," Research Reports 107574, Australian National University, Environmental Economics Research Hub.
- World Bank, 2010. "Economics of Adaptation to Climate Change : Synthesis Report," World Bank Publications - Reports 12750, The World Bank Group.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Stephen Smith, 2016. "The Two Fragilities: Vulnerability to Conflict,Environmental Stress, and Their Interactions as Challenges to Ending Poverty," Working Papers 2016-1, The George Washington University, Institute for International Economic Policy.
- Myung-Jin Kim & Robert J. Nicholls & John M. Preston & Gustavo A. Almeida, 2022. "Evaluation of flexibility in adaptation projects for climate change," Climatic Change, Springer, vol. 171(1), pages 1-17, March.
- Robert L. Ceres & Chris E. Forest & Klaus Keller, 2017. "Understanding the detectability of potential changes to the 100-year peak storm surge," Climatic Change, Springer, vol. 145(1), pages 221-235, November.
- Golub,Alexander Alexandrovich & Toman,Michael A., 2016. "Economic structural change as an option for mitigating the impacts of climate change," Policy Research Working Paper Series 7637, The World Bank.
- Alexander Golub & Michael Brody, 2017. "Uncertainty, climate change, and irreversible environmental effects: application of real options to environmental benefit-cost analysis," Journal of Environmental Studies and Sciences, Springer;Association of Environmental Studies and Sciences, vol. 7(4), pages 519-526, December.
- Michalis Skourtos & Dimitris Damigos & Areti Kontogianni & Christos Tourkolias & Alistair Hunt, 2019. "Embedding Preference Uncertainty for Environmental Amenities in Climate Change Economic Assessments: A “Random” Step Forward," Economies, MDPI, vol. 7(4), pages 1-22, October.
- Decker, Christopher, 2018. "Utility and regulatory decision-making under conditions of uncertainty: Balancing resilience and affordability," Utilities Policy, Elsevier, vol. 51(C), pages 51-60.
- Daiju Narita & Martin F. Quaas, 2014.
"Adaptation To Climate Change And Climate Variability: Do It Now Or Wait And See?,"
Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 5(04), pages 1-28.
- Narita, Daiju & Quaas, Martin F., 2012. "Adaptation to climate change and climate variability: Do it now or wait and see?," Kiel Working Papers 1809, Kiel Institute for the World Economy (IfW Kiel).
- Arun S. Malik & Stephen C. Smith, 2012.
"Adaptation To Climate Change In Low-Income Countries: Lessons From Current Research And Needs From Future Research,"
Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 3(02), pages 1-22.
- Stephen C. Smith & Arun S. Malik, 2012. "Adaptation to Climate Change in Low-Income Countries: Lessons from Current Research and Needs from Future Research," Working Papers 2012-8, The George Washington University, Institute for International Economic Policy.
- Dobes Leo & Jotzo Frank & Stern David I., 2014.
"The Economics of Global Climate Change: A Historical Literature Review,"
Review of Economics, De Gruyter, vol. 65(3), pages 281-320, December.
- Stern, David I. & Jotzo, Frank & Dobes, Leo, 2013. "The Economics of Global Climate Change: A Historical Literature Review," Working Papers 249412, Australian National University, Centre for Climate Economics & Policy.
- David I. Stern & Frank Jotzo & Leo Dobes, 2013. "The Economics of Global Climate Change: A Historical Literature Review," CCEP Working Papers 1307, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
- McDermott, T.K.J. & Surminski, S., 2018. "Normative interpretations of climate risk assessment and how it affects local decision making – a study at the city scale in Cork, Ireland," Working Papers 309607, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
- Graeme Guthrie, 2021. "Discounting, Disagreement, and the Option to Delay," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 80(1), pages 95-133, September.
- Paul Watkiss & Alistair Hunt & William Blyth & Jillian Dyszynski, 2015. "The use of new economic decision support tools for adaptation assessment: A review of methods and applications, towards guidance on applicability," Climatic Change, Springer, vol. 132(3), pages 401-416, October.
- G. Guthrie, 2021. "Adapting to Rising Sea Levels: How Short-Term Responses Complement Long-Term Investment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 78(4), pages 635-668, April.
- Graeme Guthrie, 2019. "Real options analysis of climate-change adaptation: investment flexibility and extreme weather events," Climatic Change, Springer, vol. 156(1), pages 231-253, September.
- Hirte, Georg & Nitzsche, Eric & Tscharaktschiew, Stefan, 2018. "Optimal adaptation in cities," Land Use Policy, Elsevier, vol. 73(C), pages 147-169.
- Dawson, David A. & Hunt, Alistair & Shaw, Jon & Gehrels, W. Roland, 2018. "The Economic Value of Climate Information in Adaptation Decisions: Learning in the Sea-level Rise and Coastal Infrastructure Context," Ecological Economics, Elsevier, vol. 150(C), pages 1-10.
- Adam D. McCurdy & William R. Travis, 2017. "Simulated climate adaptation in stormwater systems: evaluating the efficiency of adaptation strategies," Environment Systems and Decisions, Springer, vol. 37(2), pages 214-229, June.
- Maddalen Mendizabal & Nieves Peña & Hans Hooyberghs & Griet Lambrechts & Joel Sepúlveda & Saioa Zorita, 2021. "Lessons Learned from Applying Adaptation Pathways in Heatwave Risk Management in Antwerp and Key Challenges for Further Development," Sustainability, MDPI, vol. 13(20), pages 1-23, October.
- Lee, Sangjun & Zhao, Jinhua, 2021. "Adaptation to climate change: Extreme events versus gradual changes," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
- Paul Watkiss, 2015. "A review of the economics of adaptation and climate-resilient development," GRI Working Papers 205, Grantham Research Institute on Climate Change and the Environment.
- repec:gwi:wpaper:2012-08 is not listed on IDEAS
- Dittrich, Ruth & Wreford, Anita & Moran, Dominic, 2016. "A survey of decision-making approaches for climate change adaptation: Are robust methods the way forward?," Ecological Economics, Elsevier, vol. 122(C), pages 79-89.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Heuson, Clemens & Gawel, Erik & Gebhardt, Oliver & Hansjürgens, Bernd & Lehmann, Paul & Meyer, Volker & Schwarze, Reimund, 2012. "Ökonomische Grundfragen der Klimaanpassung: Umrisse eines neuen Forschungsprogramms," UFZ Reports 02/2012, Helmholtz Centre for Environmental Research (UFZ).
- Heuson, Clemens & Gawel, Erik & Gebhardt, Oliver & Hansjürgens, Bernd & Lehmann, Paul & Meyer, Volker & Schwarze, Reimund, 2012. "Fundamental questions on the economics of climate adaptation: Outlines of a new research programme," UFZ Reports 05/2012, Helmholtz Centre for Environmental Research (UFZ).
- Paul Watkiss, 2015. "A review of the economics of adaptation and climate-resilient development," GRI Working Papers 205, Grantham Research Institute on Climate Change and the Environment.
- Omran Frihy & Mahmoud El-Sayed, 2013. "Vulnerability risk assessment and adaptation to climate change induced sea level rise along the Mediterranean coast of Egypt," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 18(8), pages 1215-1237, December.
- Antje Otto & Kristine Kern & Wolfgang Haupt & Peter Eckersley & Annegret H. Thieken, 2021. "Ranking local climate policy: assessing the mitigation and adaptation activities of 104 German cities," Climatic Change, Springer, vol. 167(1), pages 1-23, July.
- Ying Xu & Christopher Findlay, 2019. "Farmers’ constraints, governmental support and climate change adaptation: evidence from Guangdong Province, China," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(4), pages 866-880, October.
- Channing Arndt & William Farmer & Kenneth Strzepek & James Thurlow, 2012.
"Climate Change, Agriculture and Food Security in Tanzania,"
Review of Development Economics, Wiley Blackwell, vol. 16(3), pages 378-393, August.
- Channing Arndt & William Farmer & Kenneth Strzepek & James Thurlow, 2011. "Climate Change, Agriculture, and Food Security in Tanzania," WIDER Working Paper Series wp-2011-052, World Institute for Development Economic Research (UNU-WIDER).
- Arndt, Channing & Farmer, William & Strzepek, Kenneth & Thurlow, James, 2012. "Climate change, agriculture and food security in Tanzania," Policy Research Working Paper Series 6188, The World Bank.
- S. A. Mashi & A. I. Inkani & Oghenejeabor Obaro & A. S. Asanarimam, 2020. "Community perception, response and adaptation strategies towards flood risk in a traditional African city," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 103(2), pages 1727-1759, September.
- P. Ward & M. Marfai & F. Yulianto & D. Hizbaron & J. Aerts, 2011. "Coastal inundation and damage exposure estimation: a case study for Jakarta," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 56(3), pages 899-916, March.
- Fran Sussman & Nisha Krishnan & Kathryn Maher & Rawlings Miller & Charlotte Mack & Paul Stewart & Kate Shouse & Bill Perkins, 2014. "Climate change adaptation cost in the US: what do we know?," Climate Policy, Taylor & Francis Journals, vol. 14(2), pages 242-282, March.
- Dasgupta, Susmita & Laplante, Benoit & Murray, Siobhan & Wheeler, David, 2009. "Sea-level rise and storm surges : a comparative analysis of impacts in developing countries," Policy Research Working Paper Series 4901, The World Bank.
- Montaud, Jean-Marc & Pecastaing, Nicolas & Tankari, Mahamadou, 2017.
"Potential socio-economic implications of future climate change and variability for Nigerien agriculture: A countrywide dynamic CGE-Microsimulation analysis,"
Economic Modelling, Elsevier, vol. 63(C), pages 128-142.
- Jean-Marc Montaud & Nicolas Pecastaing & Mahamadou Roufahi Tankari, 2017. "Potential socio-economic implications of future climate change and variability for Nigerien agriculture: A countrywide dynamic CGE-Microsimulation analysis," Post-Print hal-01885231, HAL.
- Channing Arndt & Finn Tarp & James Thurlow, 2015.
"The Economic Costs of Climate Change: A Multi-Sector Impact Assessment for Vietnam,"
Sustainability,
MDPI, Open Access Journal, vol. 7(4), pages 1-15, April.
- Arndt, Channing & Tarp, Finn & Thurlow, James, 2012. "The Economic Costs of Climate Change: A Multi-Sector Impact Assessment for Vietnam," WIDER Working Paper Series 082, World Institute for Development Economic Research (UNU-WIDER).
- Barnabas A. Amisigo & Alyssa McCluskey & Richard Swanson, 2015. "Modeling Impact of Climate Change on Water Resources and Agriculture Demand in the Volta Basin and other Basin Systems in Ghana," Sustainability, MDPI, vol. 7(6), pages 1-19, May.
- Austin Becker & Michele Acciaro & Regina Asariotis & Edgard Cabrera & Laurent Cretegny & Philippe Crist & Miguel Esteban & Andrew Mather & Steve Messner & Susumu Naruse & Adolf Ng & Stefan Rahmstorf &, 2013. "A note on climate change adaptation for seaports: a challenge for global ports, a challenge for global society," Climatic Change, Springer, vol. 120(4), pages 683-695, October.
- -, 2015. "La economía del cambio climático en América Latina y el Caribe: paradojas y desafíos del desarrollo sostenible," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 37310 edited by Cepal, September.
- Robert Mendelsohn, 2012. "The Economics Of Adaptation To Climate Change In Developing Countries," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 3(02), pages 1-21.
- Dobes Leo & Jotzo Frank & Stern David I., 2014.
"The Economics of Global Climate Change: A Historical Literature Review,"
Review of Economics, De Gruyter, vol. 65(3), pages 281-320, December.
- Stern, David I. & Jotzo, Frank & Dobes, Leo, 2013. "The Economics of Global Climate Change: A Historical Literature Review," Working Papers 249412, Australian National University, Centre for Climate Economics & Policy.
- David I. Stern & Frank Jotzo & Leo Dobes, 2013. "The Economics of Global Climate Change: A Historical Literature Review," CCEP Working Papers 1307, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
- Jing Gu & Richard Schiere, 2011. "Working Paper 124 - Post-Crisis Prospects for China-Africa Relations," Working Paper Series 292, African Development Bank.
- Sherman Robinson & Dirk Willenbockel & Kenneth Strzepek, 2012.
"A Dynamic General Equilibrium Analysis of Adaptation to Climate Change in Ethiopia,"
Review of Development Economics, Wiley Blackwell, vol. 16(3), pages 489-502, August.
- Sherman Robinson & Kenneth Strzepek & Dirk Willenbockel, 2011. "A Dynamic General Equilibrium Analysis of Adaptation to Climate Change in Ethiopia," WIDER Working Paper Series wp-2011-089, World Institute for Development Economic Research (UNU-WIDER).
More about this item
Keywords
Adaptation; climate change; real options; coastal defense; multilateral environmental assistance;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:ccexxx:v:03:y:2012:i:02:n:s201000781250008x. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/cce/cce.shtml .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.