Abstract: This paper analyzes the various contributions made in the economic literature that influence climate change vulnerability. We try to create conceptual order and transparence in the contributions identifying the assumptions and constraints that each school has introduced into academic debate and practical application. We analyze the conceptual framework that articulates the debate, review the theoretical approaches developed in the literature identifying the object of analysis and the basics of each theory, so that the real model implications are established in each case study. From this scheme we derive a clarifying proposal for organizing theoretical discourse. We specifically focus on the theoretical assumptions underlying each model. We conclude with some criteria for choosing the right models in each case and a general guideline for future research.

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