Despite the frequent references to Schumpeter's work, his own encompassing methodological approach as worked out by Shionoya (1997) has hardly been considered. In this paper, it is revisited together with Georgescu-Roegen's contributions to economic methodology in view of (i) their contribution...

In a dynamic general equilibrium model we study the interplay between gradual and structural change in the transition to a low-carbon energy industry. We focus on the welfare-theoretic consequences of diverging social and private rates of time preference and a time-to-build feature in capital...

In a dynamic general equilibrium model we study the interplay between gradual and structural change in the transition to a low-carbon energy industry. We focus on the welfare-theoretic consequences of diverging social and private rates of time preference and a time-to-build feature in capital...

This study contributes to the economic discounting debate by examining the welfare and policy implications of distorted time preferences for private investments. The analysis is applied to the energy industry, where it is of particular importance. In the transition to low-carbon energy...

We develop a general equilibrium model to study the transition from an established polluting to a new clean energy technology. Therefore, we consider two distinctive features: (i) the creation of new productive capital exhibits a timeto-build property, and (ii) the social and individual rates of...

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 accumulation in the energy sector, amplifies the distortion...