Publication details for Dr Lucia SbragiaBreton, M. & Sbragia, L. (2016). Adaptation to Climate Change: Commitment and Timing Issues. Environmental and Resource Economics
- Publication type: Journal Article
- ISSN/ISBN: 0924-6460, 1573-1502
- DOI: 10.1007/s10640-016-0056-9
- Further publication details on publisher web site
- Durham Research Online (DRO) - may include full text
Author(s) from Durham
We study the impact of timing and commitment on adaptation and mitigation policies in the context of international environmental problems. Adaptation policies present the characteristics of a private good and may require a prior investment, while mitigation policies produce a public good. In a stylized model, we evaluate the impact of strategic commitment and leadership considerations when countries with different attitudes towards environmental cooperation coexist. We obtain equilibrium abatement and adaptation levels and environmental costs under partial cooperation for various timing and leadership scenarios. Crucially, global environmental costs suffered by countries are found to be greater when adaptation measures can be used strategically.