Although climate change may severely impact agriculture, farmers can mitigate it by adapting. Using US data, we estimate the amount of potential loss in agricultural profits, due to climate change, that can be reduced by agricultural adaptation. We consider two panel frameworks that differ only in their fixed effects specifications, where this difference allows us to estimate the climate change impact on agricultural profits with or without adaptation. Comparing these estimates, we find that adaptation has the potential to offset about two‐thirds of the end‐of‐century loss in agricultural profits potentially resulting from climate change. We also find that the warmest region in the US (i.e. in the south) has the most to gain from adaptation.

中文翻译：

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适应可将农业的气候损害减少三分之二

尽管气候变化可能会严重影响农业，但农民可以通过适应措施减轻其影响。使用美国的数据，我们估计由于气候变化而导致的农业利润的潜在损失量，可以通过农业适应措施来减少。我们考虑两个面板框架，这些面板框架的固定作用规范仅有所不同，这种差异使我们能够估计气候变化对有无适应措施对农业利润的影响。比较这些估计值，我们发现适应措施可以抵消本世纪末因气候变化而导致的农业利润损失的三分之二。我们还发现，美国最温暖的地区（即南部）从适应中受益最大。