Abstract

A theoretical model has been developed to determine the optimal time to make an investment to adapt to climate change. An example might be the optimal time to adopt irrigation when drought conditions are becoming more variable over time.

Issue

The optimal timing of costly investment may be important to profitable agriculture or to managing scarce natural resources (for example, water).

Response

An economic model has been developed and analyzed numerically for a hypothetical crop. A copy of a paper describing the model and the numerical analysis is available from the P.I. upon request.

Impact

At this time, I would say there has been no impact from this research.

Funding Sources

• Other USDA (e.g., Water Quality, Special Grants, NRI)

Collaborators

• Crop and Soil Science, Cornell University
• Earth and Atmospheric Science, Cornell University

Key Personnel

• Koji Kotani, Ph.D. Candidate, Applied Economics and Management