Therefore, this paper aims at developing a broad economic framework for adaptation which can provide a foundation and a starting point for future economic research. The economic analysis allows us to distinguish between autonomous adaptation by private agents on the one hand and collective adaptation measures by government entities on the other. Our theoretical economic approach follows the basic economic paradigm of efficient competitive markets where government intervention is justified by market failure only.

Author names: 
Dannenberg, A.
et al.
Year: 
2009
Publisher: 
ZEW - Zentrum für Europäische Wirtschaftsforschung GmbH
Reference: 

Dannenberg, A., et al. (2009). The Economics of Adaptation to Climate Change – The Case of Germany. ZEW - Zentrum für Europäische Wirtschaftsforschung GmbH.

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