University of Pittsburgh
Institutional Affiliation: U Pitt
NBER Working Papers and Publications
|May 2018||The Critical Role of Markets in Climate Change Adaptation|
with Sarah E. Anderson, Terry L. Anderson, Alice C. Hill, Matthew E. Kahn, Howard Kunreuther, Gary D. Libecap, Pierre Mérel, Andrew Plantinga, V. Kerry Smith: w24645
This paper summarizes and synthesizes the role of markets in facilitating climate change adaptation. It explains how market signals encourage adaptation through land markets. It also identifies impediments to critical market signals, provides related policy recommendations, and points to promising new technologies. Urban, coastal, and agricultural land markets provide effective signals of the emerging costs of climate change. These signals encourage adjustments by both private owners and by policy officials in taking preemptive action to reduce costs. In agriculture, they promote consideration of new cropping and tillage practices, seed types, timing, and location of production. They also stimulate use of new irrigation technologies. In urban areas, they motivate new housing constructi...
Published: SARAH E. ANDERSON & TERRY L. ANDERSON & ALICE C. HILL & MATTHEW E. KAHN & HOWARD KUNREUTHER & GARY D. LIBECAP & HARI MANTRIPRAGADA & PIERRE MÉREL & ANDREW J. PLANTINGA & V. KERRY SMITH, 2019. "THE CRITICAL ROLE OF MARKETS IN CLIMATE CHANGE ADAPTATION," Climate Change Economics, vol 10(01).