each model. The framework is used to analyze the adaptation vs. mitigation dilemma and provides a simple criterion to …

stimulate efficient adaptation and mitigation should not exclusively rely on the assumption of the homo oeconomicus, but take … outcomes. This paper systematically reviews what prospect theory can offer to analyse mitigation and adaptation. It is shown …-known puzzles in the climate debate, including (but not limited to) the different uptake of mitigation and adaptation amongst …

This paper contributes to the normative literature on mitigation and adaptation by framing the question of their … mitigation. Our analysis also shows that adaptation transfers from and strategic unilateral commitments to adaptation in … is that precautionary considerations, rather than the ability to reduce smooth damage increases, justify mitigation as a …

light on how the optimal balance between mitigation and adaptation changes under different stochastic scenarios. We find … that stochastic technology growth hardly affects the optimal bundle of mitigation and adaptation whereas uncertainty about … composition of the optimal mix as both persuade the risk-averse social planner to invest more in mitigation. Overall, we identify …

premium into the model, results show a substantial increase in both mitigation and adaptation, reflecting a more conservative … attitude by the social planner. Interestingly, adaptation is stimulated more than mitigation in the first half of the century …, while the situation reverses afterwards. Over the century, the risk premium correction fosters more mitigation, which …