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. In a model of economic growth and pollution, hyperbolic discounting establishes the Golden Rule of capital accumulation …) optimal renewable resource use, (ii) the tragedy of the commons, (iii) economic growth and pollution. I then compare results …In this paper I propose a time-consistent method of discounting hyperbolically that contains the discount rate implied …
Persistent link: https://www.econbiz.de/10011706020
access resources. In a model of economic growth and pollution, hyperbolic discounting establishes the Golden Rule of capital … environmental problems: (i) optimal renewable resource use, (ii) the tragedy of the commons, (iii) economic growth and pollution. I …In this paper I propose a time-consistent method of discounting hyperbolically and apply it to three canonical …
Persistent link: https://www.econbiz.de/10011742760
We investigate renewable resources when the harvesting agents face self-control problems. Individuals are conceptualized as dual selves. The rational long-run self plans for the infinite future while the affective short-run self desires to maximize instantaneous profits. Depending on the degree...
Persistent link: https://www.econbiz.de/10012303762
We investigate renewable resources when the harvesting agents face self-control problems. Individuals are conceptualized as dual selves. The rational long-run self plans for the infinite future while the affective short-run self desires to maximize instantaneous profits. Depending on the degree...
Persistent link: https://www.econbiz.de/10012302852
. In a model of economic growth and pollution, hyperbolic discounting establishes the Golden Rule of capital accumulation …) optimal renewable resource use, (ii) the tragedy of the commons, (iii) economic growth and pollution. I then compare results …In this paper I propose a time-consistent method of discounting hyperbolically that contains the discount rate implied …
Persistent link: https://www.econbiz.de/10012949477
We investigate renewable resources use when the harvesting agents face self-control problems. Individuals are conceptualized as dual selves. The rational long-run self plans for the infinite future while the affective short-run self desires to maximize instantaneous profits or utility. Depending...
Persistent link: https://www.econbiz.de/10014091363
The “Stern Review: The Economics of Climate Change” reached conclusions and policy recommendations dramatically different from most of the earlier economic analyses of climate change. It found that the costs of climate change, as well as the potential net benefits of greenhouse gas...
Persistent link: https://www.econbiz.de/10005003980
We study environmental policy in an economy-ecology model featuring multiple deterministic stable steady-state ecological equilibria. The economy-ecology does not settle in either of the deterministic steady states as the environmental system is hit by random shocks. Individual live for two...
Persistent link: https://www.econbiz.de/10012892273
Public policy often regards pollution and other measures of poor environmental quality as public bads that result from … this article, I argue that pollution and environmental quality should instead be regarded from a property rights … of pollution and an overall improvement in environmental quality. Using cross-country data, I examine the relationship …
Persistent link: https://www.econbiz.de/10014158710
that leads to the stabilization of concentrations at 450 ppm. (2) North and South converge to a path of sustained growth at … year while South’s rates of growth are markedly higher. The transition paths require a drastic reduction of the share of … education in South. Surprisingly, in order to sustain North’s utility growth rate, some output must be transferred from South to …
Persistent link: https://www.econbiz.de/10008680902