Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2018.03.027 |
The Economic Value of Climate Information in Adaptation Decisions: Learning in the Sea-level Rise and Coastal Infrastructure Context | |
Dawson, David A.1; Hunt, Alistair2; Shaw, Jon3; Gehrels, W. Roland4 | |
2018-08-01 | |
发表期刊 | ECOLOGICAL ECONOMICS |
ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2018 |
卷号 | 150页码:1-10 |
文章类型 | Article |
语种 | 英语 |
国家 | England |
英文摘要 | Traditional methods of investment appraisal have been criticized in the context of climate change adaptation. Economic assessment of adaptation options needs to explicitly incorporate the uncertainty of future climate conditions and should recognise that uncertainties may diminish over time as a result of improved understanding and learning. Real options analysis (ROA) is an appraisal tool developed to incorporate concepts of flexibility and learning that relies on probabilistic data to characterise uncertainties. It is also a relatively resource-intensive decision support tool. We test whether, and to what extent, learning can result from the use of successive generations of real life climate scenarios, and how non-probabilistic uncertainties can be handled through adapting the principles of ROA in coastal economic adaptation decisions. Using a relatively simple form of ROA on a vulnerable piece of coastal rail infrastructure in the United Kingdom, and two successive UK climate assessments, we estimate the values associated with utilising up-dated information on sea-level rise. The value of learning can be compared to the capital cost of adaptation investment, and may be used to illustrate the potential scale of the value of learning in coastal protection, and other adaptation contexts. |
英文关键词 | Infrastructure Investment appraisal Real options Climate adaptation Sea-level rise Learning Uncertainty |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000444364000001 |
WOS关键词 | REAL OPTIONS ; FLOOD RISK ; UNCERTAINTY ; PROJECTIONS ; IMPACTS ; MODEL |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/15549 |
专题 | 资源环境科学 |
作者单位 | 1.Univ Leeds, Sch Civil Engn, Leeds LS2 9JT, W Yorkshire, England; 2.Univ Bath, Dept Econ, Bath BA2 7AY, Avon, England; 3.Univ Plymouth, Sch Geog Earth & Environm Sci, Plymouth PL4 8AA, Devon, England; 4.Univ York, Environm Dept, York YO10 5NG, N Yorkshire, England |
推荐引用方式 GB/T 7714 | Dawson, David A.,Hunt, Alistair,Shaw, Jon,et al. The Economic Value of Climate Information in Adaptation Decisions: Learning in the Sea-level Rise and Coastal Infrastructure Context[J]. ECOLOGICAL ECONOMICS,2018,150:1-10. |
APA | Dawson, David A.,Hunt, Alistair,Shaw, Jon,&Gehrels, W. Roland.(2018).The Economic Value of Climate Information in Adaptation Decisions: Learning in the Sea-level Rise and Coastal Infrastructure Context.ECOLOGICAL ECONOMICS,150,1-10. |
MLA | Dawson, David A.,et al."The Economic Value of Climate Information in Adaptation Decisions: Learning in the Sea-level Rise and Coastal Infrastructure Context".ECOLOGICAL ECONOMICS 150(2018):1-10. |
条目包含的文件 | 条目无相关文件。 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。
修改评论