Abstract
This paper presents a comprehensive review of the literature on Ricardian analysis as applied to estimating the impact of climate change on agriculture. Through a survey of published research, we discuss revisions, expansions, and the criticisms researchers have made of the Ricardian analysis since its introduction by Mendelsohn et al. The types of dependent variables and the choice of the climate variables utilized in the Ricardian analysis are synthesized and discussed. Additionally, the paper outlines the distinctions between static and dynamic Ricardian analysis, different farm types, and analyses using aggregate and farm-level data. The paper provides a synthesis of the findings of previous studies related to the study location and farm type and explores open questions and empirical concerns that require investigation in future research.
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