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Pre‚ÄêPositioned Policy as Public Adaptation to Climate Change

In: The Economics of Environmental Risk

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  • V. Kerry Smith

Abstract

Most discussions of policies for climate adaptation have focused on augmenting the capacity of natural and/or manmade systems to provide the services that are reduced or made more variable because of climate change. This orientation presumes those in charge can "guess" what is best in advance and know exactly where each unit of added capacity will be needed. Alternatively, policy could rely on developing mechanisms that give people and firms incentives to respond on their own to changes in the services provided by the climate system. These strategies could be designed in advance and create pre‚Äêpositioned, incentive‚Äêbased policies. The policies adapt based on the actions of all agents as well as changes over time or space in any other reasonably predictable conditions that may influence people's choices but are outside their control.

Suggested Citation

  • V. Kerry Smith, 2022. "Pre‚ÄêPositioned Policy as Public Adaptation to Climate Change," Chapters, in: The Economics of Environmental Risk, chapter 24, pages 366-384, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:1195_24
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