Bruin, Kelly C. de; Dellink, Rob B. - Fondazione ENI Enrico Mattei (FEEM) - 2009
The dominant assumption in economic models of climate policy remains that adaptation will be implemented in an optimal … manner. There are, however, several reasons why optimal levels of adaptation may not be attainable. This paper investigates … the effects of suboptimal levels of adaptation, i.e. adaptation restrictions, on the composition and level of climate …