Investments under non-stationarity: economic evaluation of adaptation pathways
Abstract
Investment decisions about capital-intensive, long-lived infrastructure are challenging due to uncertainty about their future performance, particularly if the performance is sensitive to climate change. Such investments, like those made for water infrastructure, are rarely evaluated over their total operational lifetime, during which socio-economic and environmental changes can cause potential lock-ins and reduced options for future choices that...
Paper Details
Title
Investments under non-stationarity: economic evaluation of adaptation pathways
Published Date
Apr 4, 2019
Journal
Volume
161
Issue
3
Pages
451 - 463
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Notes
History