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dc.contributor.authorGawith, Den
dc.contributor.authorHodge, Ianen
dc.contributor.authorMorgan, Fen
dc.contributor.authorDaigneault, Aen
dc.date.accessioned2020-03-19T00:30:45Z
dc.date.available2020-03-19T00:30:45Z
dc.date.issued2020-07-01en
dc.identifier.issn0921-8009
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/303610
dc.description.abstractHuman behaviour is commonly optimised in economic models of adaptation to climate change. These models assume that people work to maximise profit, subject to financial and technological limitations. In effect, these models simulate adaptive potential. In reality, adaptation falls short of this potential. This shortfall is conceptualised as the adaptation deficit, and it has been causing increasing concern. This study demonstrates the impacts of the ways by which people’s real-world adaptive behaviours depart from those assumed under pure optimisation. These departures, known as adaptation constraints, are formalised as numerical preference functions based on an empirical case study in New Zealand, and they are used to constrain an agent-based model of climate change adaptation. We show that these empirically-specified adaptation constraints reduce profits relative to an optimised specification by roughly one third. This demonstrates that unconstrained economic models are likely to significantly underestimate the costs of adaptation to climate change, the benefits of reducing greenhouse gas emissions, and the residual loss and damage that climate change will cause.
dc.publisherElsevier
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.titleClimate change costs more than we think because people adapt less than we assumeen
dc.typeArticle
prism.publicationDate2020en
prism.publicationNameEcological Economicsen
prism.volume173en
dc.identifier.doi10.17863/CAM.50687
dcterms.dateAccepted2020-02-27en
rioxxterms.versionofrecord10.1016/j.ecolecon.2020.106636en
rioxxterms.versionAM
rioxxterms.licenseref.urihttp://www.rioxx.net/licenses/all-rights-reserveden
rioxxterms.licenseref.startdate2020-07-01en
dc.contributor.orcidHodge, Ian [0000-0003-2679-3478]
dc.identifier.eissn1873-6106
rioxxterms.typeJournal Article/Reviewen
cam.orpheus.successWed Apr 15 08:35:33 BST 2020 - Embargo updated*
cam.orpheus.counter1*
rioxxterms.freetoread.startdate2021-07-01


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Attribution-NonCommercial-NoDerivatives 4.0 International
Except where otherwise noted, this item's licence is described as Attribution-NonCommercial-NoDerivatives 4.0 International