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As growing attention is paid to climate change adaptation as an actual policy issue, the significant meaning of climate variability in adaptation decisions is beginning to be recognized. By using a real option framework, we shed light on how climate change and climate variability affect...
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Water and agriculture are intrinsically linked. Water is essential for crop production and agriculture is the largest …-W distinguishes between rainfed and irrigated agriculture and introduces water as an explicit factor of production for irrigated … agriculture. Moreover, the new production structure accounts for substitution possibilities between irrigation and other primary …
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