time preference and a time-to-build feature in capital accumulation. Both features are particularly important in the …. We focus on the welfare-theoretic consequences of diverging social and private rates of time prefer- ence and a time-to-build …-theoretic consequences of the split of social and private time preference rates and the time-to-build feature. Although derived from a …

We study the welfare-theoretic consequences of diverging social and private time-preference rates and time-to-build for … the transition to a low-carbon energy industry. We show that time-to-build, a prevalent characteristic of capital …