CGS Research Seminar

Abstract: Economists would recommend that climate change adaptation measures be implemented if their benefits are greater than their costs. This presentation reports on a survey of the general public in six countries (the UK, Norway, Italy, Greece, Finland, and Spain), where we elicited information about the willingness to pay (WTP) for hypothetical adaptation programs. These adaptation programs covered one or more of six “sectors”—the water supply, agriculture, forests, surface waters, coastal areas, and fisheries. Climate change risks in each of these sectors vary in their severity across the six countries, as does, presumably, each country’s capacity in dealing with such risks. Importantly, we asked respondents to report their assessment of their country’s adaptation “potential” in each of these areas. We find that people place very highly value on adaptation, although all “sectors” are not valued equally. We uncover significant variation across individuals as to how high or low adaptation potential relates to the WTP for a program. These findings highlight that the benefits of adaptation depend crucially on whether the public perceives that adaptation potential exists.

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