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Life Sciences Commons

Open Access. Powered by Scholars. Published by Universities.®

2014

Series

Physical Sciences and Mathematics

Climate change

University of Pennsylvania

Articles 1 - 1 of 1

Full-Text Articles in Life Sciences

Aiding Decision Making To Reduce The Impacts Of Climate Change, Howard Kunreuther Sep 2014

Aiding Decision Making To Reduce The Impacts Of Climate Change, Howard Kunreuther

Operations, Information and Decisions Papers

Utilizing theory and empirical insights from psychology and behavioural economics, this paper examines individuals’ cognitive and motivational barriers to adopting climate change adaptation and mitigation measures that increase consumer welfare. We explore various strategies that take into account the simplified decision-making processes used by individuals and resulting biases. We make these points by working through two examples: (1) investments in energy efficiency products and new technology and (2) adaptation measures to reduce property damage from future floods and hurricanes. In both cases there is a reluctance to undertake these measures due to high and certain upfront costs, delayed and probabilistic ...