Title: Risky business: climate control legislation, regional development uncertainties and California's SB 375 law
Authors: Helen Couclelis
Addresses: Department of Geography, University of California, Santa Barbara, California 93106, USA
Abstract: Climate control legislation introduces additional layers of uncertainty into the decision environment of entrepreneurs and governments alike. This paper explores the nature of these regulatory uncertainties and their implications for decision making in the context of a recent California law. It argues that climate-oriented legislation anywhere may have similar uncertainty-amplifying effects for many kinds of entrepreneurial decisions. It then examines the promise of two methodologies developed by the RAND Corporation: Assumption-Based Planning (ABP) and Robust Adaptive Planning (RAP), which could help hedge the risks of decision making in very uncertain regulatory environments.
Keywords: USA; United States; California; climate change; climate control; legislation; regulatory uncertainties; robust adaptive planning; decision making; regional development; SB 375; laws; Senate bills; sustainable communities; climate protection; sustainability; sustainable development; regional development; government regulation; uncertainty amplification; entrepreneurial decisions; entrepreneurs; RAND Corporation; assumption based planning; risk hedging; foresight; innovation policies; innovative business resources; economic development.
International Journal of Foresight and Innovation Policy, 2011 Vol.7 No.1/2/3, pp.158 - 175
Published online: 13 May 2011 *Full-text access for editors Access for subscribers Purchase this article Comment on this article