572 EDITORIAL COMMENT There can be no doubt that, both as individuals and in groups, people do adapt to changes in their natural, social or economic environment. The adaptation can involve not only changes in behavior but also changes in preferences (habituation, or hedonic adaptation). In either case, the adaptation has the effect of reducing the cost – monetary or psychic – of an adverse change in their circumstances. The important questions in the climate change context are all empirical: When will people adapt? How much will they adapt? And, how much will their adaptation lower the cost of climate change? My reservations towards Mendelsohn’s (2000) paper center on his (implicit) answers to these empirical questions. My concerns are centered on two core issues: the efﬁciency of adaptation and the question of measurement error in assessing the cost savings due to adaptation. 2. Efﬁcient Adaptation Mendelsohn’s discussion of efﬁcient adaptation employs a line of reasoning, very common among economists, that readily mixes normative and positive analyses as though these were equivalent. He argues that adaptation should be encouraged; that it will occur; and that it will tend to be efﬁcient as long as no externalities or collective action are
Climatic Change – Springer Journals
Published: Oct 8, 2004
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera