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Temporal Investment In Climate Change Adaptation And Mitigation

Author

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  • WEIWEI WANG

    (Energy Biosciences Institute, University of Illinois at Urbana-Champaign, 1206 West Gregory Dr, Urbana, IL 61801, USA)

  • BRUCE A. McCARL

    (Department of Agricultural Economics, Texas A&M University, 309 Agriculture and Life Sciences Bldg, College Station, TX 77843-2124, USA)

Abstract

Increasingly there appears to be recognition of the need to simultaneously implement adaptation and mitigation. However, the optimal combination of adaptation and mitigation is an open question. The literature on this is rather small, and is inconsistent in conclusions. Here we explore the temporal optimal investment mix between adaptation and mitigation and their relative contributions to damage reduction. We do this using a conceptual framework that integrates mitigation and adaptation considering one time flow and persistent stock adaptation. We also consider unadaptable damages and investment competition. Results suggest that stock and flow adaptation are dominant damage reduction means in the first 120 years while mitigation dominates from thereon. We also find that the adaptation/mitigation mix changes markedly toward mitigation when climate change damages per unit atmosphericCO2concentration rises.

Suggested Citation

  • WEIWEI WANG & BRUCE A. McCARL, 2013. "Temporal Investment In Climate Change Adaptation And Mitigation," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 4(02), pages 1-18.
    • Handle: RePEc:wsi:ccexxx:v:04:y:2013:i:02:n:s2010007813500097
    DOI: 10.1142/S2010007813500097
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    References listed on IDEAS

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    1. de Bruin, Kelly Chloe, 2011. "Distinguishing Between Proactive (Stock) and Reactive (Flow) Adaptation," CERE Working Papers 2011:8, CERE - the Center for Environmental and Resource Economics.
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    4. Bosello, Francesco & Eboli, Fabio & Pierfederici, Roberta, 2012. "Assessing the Economic Impacts of Climate Change. An Updated CGE Point of View," Climate Change and Sustainable Development 121700, Fondazione Eni Enrico Mattei (FEEM).
    5. World Bank, 2010. "Economics of Adaptation to Climate Change : Synthesis Report," World Bank Publications - Reports 12750, The World Bank Group.
    6. Francesco Bosello & Fabio Eboli & Roberta Pierfederici, 2012. "Assessing the Economic Impacts of Climate Change," Review of Environment, Energy and Economics - Re3, Fondazione Eni Enrico Mattei, February.
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    Cited by:

    1. Charles Sims & Sarah Null & Josue Medellin-Azuara, 2017. "Hurry up or wait: The effect of climate change and variability on the timing of private adaptation," Working Papers 2017-04, University of Tennessee, Department of Economics.
    2. Bréchet, Thierry & Hritonenko, Natali & Yatsenko, Yuri, 2016. "Domestic environmental policy and international cooperation for global commons," Resource and Energy Economics, Elsevier, vol. 44(C), pages 183-205.
    3. Bruce A McCarl & Thomas W Hertel, 2018. "Climate Change as an Agricultural Economics Research Topic," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 40(1), pages 60-78.
    4. Jianhong Mu & Anne Wein & Bruce McCarl, 2015. "Land use and management change under climate change adaptation and mitigation strategies: a U.S. case study," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 20(7), pages 1041-1054, October.
    5. Charles Sims & Sarah E. Null & Josue Medellin-Azuara & Augustina Odame, 2021. "Hurry Up Or Wait: Are Private Investments In Climate Change Adaptation Delayed?," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 12(04), pages 1-36, November.

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