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  4. How economics can help mitigate climate change - a critical review and conceptual analysis of economic paradigms
 
Zitierlink DOI
10.26092/elib/1131

How economics can help mitigate climate change - a critical review and conceptual analysis of economic paradigms

Veröffentlichungsdatum
2021-10-21
Autoren
Rogowski, Wolf  
Elsner, Wolfram  
Zusammenfassung
In economic research about climate change mitigation, there is a tension between the objectives to ensure scientific rigor (focusing on orthodox theory) and to illuminate blind spots of relevance (drawing on different “heterodox” theories). Our aim is to develop an economic perspective on climate change mitigation which considers both objectives.
We conduct a critical literature review, searching for coherent economic theory lattices, which meet the requirements of research programs, i.e. contain a pre-analytic vision, an analytical core including a concept of rationality, and examples of applications in empirical research. We develop a framework structuring these research programs and associated research fields and search for examples illustrating their applicability to climate change mitigation.
We identify several research fields within four major research programs that perceive economic phenomena as (1) individual optimization decisions (neoclassical analysis of efficient and of inefficient equilibria and behavioral economics); (2) a set of institutions (New and Original institutional economics); (3) a complex evolutionary system (Biophysical and Evolutionary economics); and (4) an objective function (which can guide research focusing on the content or the distribution of the normatively defined units of interest). For each research program and its subdivisions, we present theoretical elements and illustrate how they can improve our understanding of how economic activity contributes to climate change and how these impacts can be alleviated.
There is a need for more systematic evidence synthesis to validate the contributions of the different economic research fields and to improve their selection and application to climate change.
Schlagwörter
Climate change

; 

neoclassical economics

; 

behavioral economics

; 

economic heterodoxies

; 

evolutionary economics

; 

institutional economics

; 

objective functions

; 

research programs

; 

policy implications
Institution
Universität Bremen  
Fachbereich
Fachbereich 07: Wirtschaftswissenschaft (FB 07)  
Institute
Institute for Economic Research and Policy (IERP)  
Dokumenttyp
Bericht, Report
Serie(s)
Bremen Papers on Economics & Innovation  
Band
2106
Zweitveröffentlichung
Nein
Lizenz
http://creativecommons.org/licenses/by-nc-nd/3.0/de/
Sprache
Englisch
Dateien
Lade...
Vorschaubild
Name

How economics can help mitigate climate change_2021-10-05a_ierp.pdf

Size

1.32 MB

Format

Adobe PDF

Checksum

(MD5):1508c5b39ebb3ce93721026a96f680f0

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