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Based on the Ramsey equation and an ethically motivated rejection of pure utility time discount, the Stern Review on the Economics of Climate Change concentrates on the use of the elasticity of marginal utility ç in the intergenerational social welfare function. We support this position by...
Persistent link: https://www.econbiz.de/10010264313
discounting environment consumption with an environmental discount rate instead of a consumption discount rate that is usually … used in cost-benefit analysis. The present study clarifies that whether or not this dual-rate discounting approach succeeds …
Persistent link: https://www.econbiz.de/10010298591
suggests discounting environmental quality at a lower discount rate than the standard consumption discount rate. Recent …
Persistent link: https://www.econbiz.de/10010298645
suggests discounting environmental quality at a lower discount rate than the standard consumption discount rate. Recent …
Persistent link: https://www.econbiz.de/10010303843
use a special intergenerational discounting technique which actually takes into account intergenerational peculiarities in … with a conventional discounting method. By applying this discounting technique sustainable growth paths of all economic …
Persistent link: https://www.econbiz.de/10010305082
Is discounting of future instantaneous utilities consistent with altruism towards future selves? More precisely, can …-utility discounting. None of the usual discount functions satisfy all desiderata, but we propose a simple class of discount functions …
Persistent link: https://www.econbiz.de/10010334901
We investigate whether temporal preferences expressed as a sum of discounted consumption utilities can be derived from a welfare representation in the form of a sum of discounted total utilities. We find that a consumption-based representation in the usual exponential form corresponds to...
Persistent link: https://www.econbiz.de/10010335002
We investigate the systematic intergenerational discounting of climate policy on basis of the neo-classical benefit …-cost analysis. Reference point is the Ramsey-rule which results from optimal growth theory. The agents live infinitely long. This … of human beings, a realistic discounting method would be to use an OLG-model. This method allows each living generation …
Persistent link: https://www.econbiz.de/10010435515
assumption of (intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the …
Persistent link: https://www.econbiz.de/10010280817
possibly millennia to the future. To reconcile the discounting of such far-distant impacts and realism of the shorter …
Persistent link: https://www.econbiz.de/10010283621