Farm Adaptation to Climate Change

Global climate change poses new risks to the world economy. The unique dependence of the farm economy to the agroclimate makes it especially vulnerable to shifts in global weather patterns caused by global warming. Climate models have predicted increase in global mean temperatures along with shifts in variability and severity of weather events. Agriculture s ability to combat climate change relies on farm adaptation to the new risk environment created by climate change. Traditional economic analyses on the topic have not paid adequate attention to critical elements such as producer adaptation and adequately representing environmental and market risk. In this book, Dr. Kanakasabai integrates advanced crop simulation with economic decision modeling under uncertainty to explore farm adaptation under global climate change. He demonstrates through use of three increasingly realistic scenarios, the magnitude of climate shifts, potential for farm adaptation and the resulting impacts on farm revenues. The decision analysis employs advanced mathematical programming approaches which should be especially useful for risk analysts, agricultural experts and policy makers.

Autorentext

Murali Kanakasabai is VP & Senior Economist with the Chicago Climate Exchange-an environmental derivatives exchange. A career spanning academia and private sector, Dr. Kanakasabai's focuses on development of environmental markets and natural resource risk management. He has a PhD in Agricultural Economics from the University of Kentucky