Tradable permits in greenhouse gases are a key, last-minute provision incorporated in the Protocol agreed in Kyoto in December 1997, but the details of any future scheme remain to be negotiated. If an effective scheme is to be implemented, it needs to take account of issues such as the fact that...

If scarce community resources for emergency services are to be allocated efficiently from a social perspective, decision-makers should be informed by social cost–benefit analysis (CBA). However, this is rarely, if ever, the case in Australia. One reason may be the challenge of estimating...

Abstract We review the literature on the economics of climate change with a focus on the evolution of the literature from some of the early classic papers to the latest contributions. We divide the paper into three main sections: trends in greenhouse gas emissions, mitigation, and adaptation.

World economic activity is a cause of climate change and climate change has an impact on economic activity. Adaptation to climate change can occur locally, but action to reduce the extent of climate change requires global cooperation or at least coordination. Covering all aspects of the problem,...