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The Microbehavioral Economic Models of Adaptation Behaviors to Global Warming

  • S. Niggol Seo
Chapter

Abstract

From this chapter on, four scientific traditions that provide useful empirical information to both the decision-makers of the Green Climate Fund and the evaluators of the GCF decisions are explained, the first of which is the microbehavioral economic models of adaptation to global warming. The microbehavioral economics examines how an individual manager of agricultural and natural resources chooses an optimal portfolio of resources, taking the given climate factors into account, to maximize the profit earned from the portfolio over the long-term. This chapter explains major empirical findings from the microbehavioral studies conducted through the farm household surveys in Africa, Latin America, and South Asia. In response to or anticipation of climatic shifts, behavioral changes of individuals occur, among other things, by switching from one enterprise to another among the natural resource enterprises, or from one crop or animal species to another, or from a specialized portfolio to a diversified portfolio. The results offer valuable insights to the GCP policy-makers on which natural resource portfolio is most vulnerable as well as on how natural source mangers should adapt to future climatic changes.

Keywords

Microbehavioral Adaptation behaviors Global warming Natural resource portfolio Land value 

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© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • S. Niggol Seo
    • 1
  1. 1.Muaebak Institute of Global Warming StudiesSeorim-dong, Gwanak-gu, SeoulKorea

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