Freeman, Mark C., Groom, Ben 
ORCID: 0000-0003-0729-143X and Zeckhauser, Richard J.
(2015)
Better predictions, better allocations: scientific advances and adaptation to climate change.
Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences, 373 (2055).
ISSN 1364-503X
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Abstract
Climate science initially aspired to improve understanding of what the future would bring, and thereby produce appropriate public policies and e¤ective international climate agreements. If that hope is dashed, as now seems probable, e¤ective policies for adapting to climate change become critical. Climate science assumes new responsibilities by helping to fos- ter more appropriate adaptation measures, which might include shifting modes or locales of production. This theoretical article focuses on two broader tools: consumption smoothing in response to the risk of future losses, and physical adaptation measures to reduce potential damages. It shows that informative signals on the e¤ects of climate change facilitate better decisions on the use of each tool, thereby increasing social welfare.
| Item Type: | Article |
|---|---|
| Official URL: | https://royalsociety.org/journals/ |
| Additional Information: | © 2015 The Authors |
| Divisions: | Geography & Environment |
| Subjects: | G Geography. Anthropology. Recreation > GE Environmental Sciences G Geography. Anthropology. Recreation > GF Human ecology. Anthropogeography |
| Date Deposited: | 23 Oct 2015 13:42 |
| Last Modified: | 14 Sep 2024 06:51 |
| URI: | http://eprints.lse.ac.uk/id/eprint/64134 |
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