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Valuing Climate Change Mitigation

Applying Stated Preferences in the Presence of Uncertainty Sonia Akter, Department of Economics, Helmholtz Centre for Environmental Research – UFZ, Leipzig, Germany and Jeff Bennett, Professor of Environmental Management, Crawford School of Economics and Government, The Australian National University, Canberra, Australia
Valuing Climate Change Mitigation discusses the role of uncertainty in valuing the benefits of climate change mitigation policies using contingent valuation and choice experiment techniques. It treats climate change using three dimensions of uncertainty: scenario, policy and preference. Conceptual frameworks are advanced to account simultaneously for these various dimensions of uncertainty. The authors then explore the impact of introducing these uncertainties into benefit estimates for the Australian Carbon Pollution Reduction Scheme.
Extent: 192 pp
Hardback Price: $112.00 Web: $100.80
Publication Date: 2012
ISBN: 978 1 78100 332 9
Availability: In Stock
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  • Economics and Finance
  • Environmental Economics
  • Valuation
  • Environment
  • Climate Change
  • Environmental Economics
  • Valuation

This enriching book presents a holistic overview of climate change uncertainty and offers a number of pathways that could be used to account for such uncertainties in the stated preference valuation research. It shows that uncertainty plays an important role in determining the values of climate change mitigation benefits and, as the authors say, ‘If this uncertainty remains unaccounted for, there is a potential danger that the estimated economic values will misrepresent social preferences for public policy interventions to manage environmental externalities.’

Valuing Climate Change Mitigation discusses the role of uncertainty in valuing the benefits of climate change mitigation policies using contingent valuation and choice experiment techniques. It treats climate change using three dimensions of uncertainty: scenario, policy and preference. Conceptual frameworks are advanced to account simultaneously for these various dimensions of uncertainty. The authors then explore the impact of introducing these uncertainties into benefit estimates for the Australian Carbon Pollution Reduction Scheme.

The authors present frameworks to account for multiple uncertainty in environmental decision analysis that will prove invaluable for academics and students in the fields of environmental economics and management. Policy makers will also gain invaluable methodological insight.
‘Written in a clear and mostly nontechnical manner, while offering the right amount of details, this book would be certainly useful to academics and practitioners aiming at understanding peoples' attitudes towards different climate change mitigation options. Ultimately, different sources of uncertainty are important not only for climate change policies, but also for many other environmental issues. This book provides a useful road map, together with numerous practical details, that would be very helpful for anybody wanting to encompass uncertainty in SP surveys.’
– Carlo Fezzi, Journal of Economic Literature Reviews

‘The findings of the book are an important contribution to the successful implementation of climate change policy and communicating climate change risk to a general audience.’
– Helen Adams, Environmental Values
Contents: 1. Climate Change and Uncertainty 2. Uncertainty and Stated Preference Techniques: A Conceptual Overview 3. Uncertainty and Stated Preference Techniques in Practice 4. Data 5. Public Perceptions, Understanding and Knowledge of Climate Change 6. Climate Change Uncertainty and Contingent Valuation Welfare Estimates 7. The Role of Global Cooperation 8. Climate Change Uncertainty and Choice Experiment Welfare Estimates 9. Determinants of Preference Uncertainty 10. Conclusion References Index