How should changes in environmental quality occurring in the future be discounted? To answer this question we consider a model of “ecological discounting,” where the representative consumer has a utility function defined over two attributes, consumption and environmental quality, which...

We analyze precautionary saving behavior in a framework with labor and non-labor income risks, an endogenous supply of labor, and a representation of preferences that disentangles attitudes towards risk, attitudes towards intertemporal smoothing, and ordinal preferences for consumption and...