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Policy tradeoffs under risk of abrupt climate change

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  • Tsur, Yacov
  • Zemel, Amos

Abstract

By now it is widely recognized that the more serious threats of climate change are associated with abrupt events capable of inicting losses on a catastrophic scale. Consequently, the main role of climate policies is to balance between mitigation eorts, aimed at delaying (or even preventing) the occurrence of such events, and adaptation actions, aimed at minimizing the damage inicted upon occurrence. The former affects the accumulation of greenhouse gases in the atmosphere; the latter determines the impact of loss once the event occurs. This work examines the tradeos associated with these two types of policy measures by characterizing the optimal mitigation-adaptation mix in the long run.

Suggested Citation

  • Tsur, Yacov & Zemel, Amos, 2015. "Policy tradeoffs under risk of abrupt climate change," Discussion Papers 290042, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
    • Handle: RePEc:ags:huaedp:290042
    DOI: 10.22004/ag.econ.290042
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    1. Yacov Tsur & Cees Withagen, 2013. "Preparing for catastrophic climate change," Journal of Economics, Springer, vol. 110(3), pages 225-239, November.
    2. Polasky, Stephen & de Zeeuw, Aart & Wagener, Florian, 2011. "Optimal management with potential regime shifts," Journal of Environmental Economics and Management, Elsevier, vol. 62(2), pages 229-240, September.
    3. Tsur, Yacov & Zemel, Amos, 1998. "Pollution control in an uncertain environment," Journal of Economic Dynamics and Control, Elsevier, vol. 22(6), pages 967-975, June.
    4. Yacov Tsur & Amos Zemel, 2016. "The Management of Fragile Resources: A Long Term Perspective," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 65(3), pages 639-655, November.
    5. Richard Tol, 2012. "On the Uncertainty About the Total Economic Impact of Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 53(1), pages 97-116, September.
    6. Gjerde, Jon & Grepperud, Sverre & Kverndokk, Snorre, 1999. "Optimal climate policy under the possibility of a catastrophe," Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 289-317, August.
    7. de Zeeuw, Aart & Zemel, Amos, 2012. "Regime shifts and uncertainty in pollution control," Journal of Economic Dynamics and Control, Elsevier, vol. 36(7), pages 939-950.
    8. Zemel, Amos, 2015. "Adaptation, mitigation and risk: An analytic approach," Journal of Economic Dynamics and Control, Elsevier, vol. 51(C), pages 133-147.
    9. Finnoff, David & Potapov, Alexei & Lewis, Mark A., 2010. "Control and the management of a spreading invader," Resource and Energy Economics, Elsevier, vol. 32(4), pages 534-550, November.
    10. Thierry Bréchet & Natali Hritonenko & Yuri Yatsenko, 2013. "Adaptation and Mitigation in Long-term Climate Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 55(2), pages 217-243, June.
    11. Tsur, Yacov & Zemel, Amos, 1996. "Accounting for global warming risks: Resource management under event uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 20(6-7), pages 1289-1305.
    12. Schelling Thomas C., 2007. "Climate Change: The Uncertainties, the Certainties and What They Imply About Action," The Economists' Voice, De Gruyter, vol. 4(3), pages 1-5, July.
    13. Partha Dasgupta & Karl-Göran Mäler, 2003. "The Economics of Non-Convex Ecosystems: Introduction," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 26(4), pages 499-525, December.
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    Citations

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    Cited by:

    1. Ingmar Schumacher, 2019. "Climate Policy Must Favour Mitigation Over Adaptation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(4), pages 1519-1531, December.
    2. Linnea Lorentzen & Steinar Strøm & Jon Vislie, 2024. "Competing Stochastic Thresholds: The Green Transition as a Race Between “The Good” and “The Ugly”," CESifo Working Paper Series 11418, CESifo.
    3. Mavi, Can Askan, 2020. "Can harmful events be another source of environmental traps?," Journal of Mathematical Economics, Elsevier, vol. 89(C), pages 29-46.
    4. Can Askan Mavi, 2017. "Creative Destruction vs Destructive Destruction ? : A Schumpeterian Approach for Adaptation and Mitigation," Working Papers halshs-01455297, HAL.
    5. Can Askan Mavi, 2017. "What Can Abrupt Events Tell Us About Sustainability ?," Working Papers hal-01628682, HAL.
    6. Mavi, Can Askan, 2019. "What can catastrophic events tell us about sustainability?," Journal of Mathematical Economics, Elsevier, vol. 83(C), pages 70-83.
    7. Can Askan Mavi, 2019. "What can catastrophic events tell us about sustainability?," Post-Print halshs-02142121, HAL.
    8. Can Askan Mavi, 2020. "Can harmful events be another source of environmental traps?," Post-Print hal-02880592, HAL.
    9. Mavi, Can Askan, 2024. "Creative destruction vs destructive destruction: A Schumpeterian approach for adaptation and mitigation," Mathematical Social Sciences, Elsevier, vol. 127(C), pages 36-53.
    10. Johannes Emmerling & Ulrike Kornek & Valentina Bosetti & Kai Lessmann, 2021. "Climate thresholds and heterogeneous regions: Implications for coalition formation," The Review of International Organizations, Springer, vol. 16(2), pages 293-316, April.
    11. Can Askan Mavi, 2019. "Can harmful events be another source of environmental traps?," CEE-M Working Papers halshs-02141789, CEE-M, Universtiy of Montpellier, CNRS, INRA, Montpellier SupAgro.
    12. Can Askan Mavi, 2019. "Can harmful events be another source of environmental traps?," Working Papers halshs-02141789, HAL.
    13. Can Askan Mavi, 2017. "Can a hazardous event be another source of poverty traps ?," Working Papers hal-01522087, HAL.

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    More about this item

    Keywords

    Agricultural and Food Policy; Environmental Economics and Policy;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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