Micro-Behavioral Economics of Global Warming: Modeling by S. Niggol Seo

By S. Niggol Seo

This booklet offers a origin for learning the micro-behavioral economics of world warming. the writer develops an empirical version, named the Geographically-scaled Micro econometric version of Adapting Portfolios (G-MAP) in line with climatic alterations and dangers. The G-MAP version is utilized to saw judgements of agricultural and common source corporations in Sub-Saharan Africa and South the USA. the writer describes the 5 purposes of the version: the G-MAP animal species, the G-MAP agricultural structures, the G-MAP ordinary source organisations, the G-MAP weather chance, and the G-MAP public adaptations.

The micro-behavioral economics of worldwide warming and the G-MAP versions are evaluated opposed to the 3 replacement modeling traditions: the 1st is the Agro-Economic types (AEM) in accordance with crop simulations of chosen vegetation lower than increased CO2 stipulations; the second one is a family members of econometric experiences of grain yield alterations brought on by each year climate fluctuations; The 3rd is the Agro-Ecological region (AEZ) procedure hinged crucially at the AEZ classifications of ecosystems.

The writer bargains a clean examine the normal economics of worldwide warming, unraveling a wide array of edition suggestions followed by way of managers of agricultural and normal source businesses in Sub-Saharan Africa and South the United States. The e-book demonstrates that the micro-behavioral economics dynamically integrates a number of disciplines in a cohesive approach - together with economics, psychology, weather technological know-how, atmosphere experiences, agronomy and animal technological know-how - into the decision-making framework of a person agent. The G-MAP types supply a advisor map of model thoughts for the humanity’s enduring trip of combating international climatic alterations during this century and past.

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Additional info for Micro-Behavioral Economics of Global Warming: Modeling Adaptation Strategies in Agricultural and Natural Resource Enterprises

Sample text

Cambridge University Press, Cambridge Matsui T, Namuco OS, Ziska LH, Horie T (1997) Effects of high temperature and CO2 concentration on spikelet sterility in Indica rice. Field Crops Res 5:213–219 Matthews E (1983) Global vegetation and land use: new high-resolution data bases for climate studies. J Clim Appl Meteorol 22(3):474–487 McFadden DL (1974) Conditional logit analysis of qualitative choice behavior. In: Zarembka P (ed) Frontiers in econometrics. Academic, New York, pp 105–142 McFadden D, Train K (2000) Mixed MNL models for discrete response.

In another scenario, the DTR was assumed to increase by 3° due to global warming. If the CVP were to increase by 30 % in a warmer world during this century, Sub-Saharan farmers would switch from the specialized crop system to the integrated crops-livestock system. 3 % points. The specialized livestock system is also predicted to decrease (Seo 2013b). , if there were to be more frequent severe drought years and heavy rainfall years, farmers would adapt by mixing crops with livestock. Put differently, farmers should diversify their portfolios to reduce the damages incurred by precipitation risk in a similar way to a financial investor who diversifies her/his portfolio into assets which have negative correlations to economic shocks (Markowitz 1952; Tobin 1958).

The G-MAP climate risk model relies on the set of assumptions about the changes in these indicators in order to simulate the changes in farmers’ behaviors. In one scenario, it is assumed that the CVP would increase by 30 %. In another scenario, the DTR was assumed to increase by 3° due to global warming. If the CVP were to increase by 30 % in a warmer world during this century, Sub-Saharan farmers would switch from the specialized crop system to the integrated crops-livestock system. 3 % points.

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