„Viele Unternehmen vernachlässigen Umweltkosten bei der Produktion ihrer Güter und Dienstleistungen, was dazu führt, dass in einer Volkswirtschaft zu viel und zu billig produziert werden kann. Würden sie statt ihrer einzelwirtschaftlichen Kosten die wahren volkswirtschaftlichen Kosten bei...

In this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neoclassical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an...

This paper analyses the choice of an inter-generational discount rate as well as a method for inter-generational discounting. It is shown that the pure time preference rate is irrelevant for inter-generational comparisons. However, the application of the growth time preference rate - with...

We analyze the Kyoto-mechanisms with respect to their possible impacts on the fulfillment of each country's reduction obligation and cost-efficiency. We conclude that an emissions trading system cannot be realized because it demands global harmonization of environmental policy in all countries....

Ecological damages have to be evaluated in monetary terms for implementation in an economic analysis. Economic theory is based upon individual preferences (methodological individualism): Ecological damages can only be socially evaluated when individual values are available. However, in sharp...

This paper investigates the sustainability of the German economy when reaching the Kyoto emissions reduction target. We use a special intergenerational discounting technique which actually takes into account intergenerational peculiarities in an overlapping generations modeling framework which...