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Preferences For The Far Future

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  • Steinke, Marek
  • Trautmann, Stefan

Abstract

Both research and anecdotal evidence suggest that people care about long-run environmental outcomes, but often fail to act sustainably, endangering environmental stability. For a large population sample, we show that people substantially value the environment intrinsically, i.e., even after their own and their kin’s lifespan. Willingness-to-pay for very long-run environmental benefits not experienced by the respondent is similar to that of short-run benefits, experienced by the respondent. However, adding a cooperation problem through uncertainty about other people’s preferences significantly decreases participants’ willingness-to-pay for both time frames, with respondents being pessimistic about others’ willingness to contribute.

Suggested Citation

  • Steinke, Marek & Trautmann, Stefan, 2021. "Preferences For The Far Future," Working Papers 0706, University of Heidelberg, Department of Economics.
    • Handle: RePEc:awi:wpaper:0706
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    References listed on IDEAS

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    Cited by:

    1. Helena Fornwagner & Oliver P. Hauser, 2022. "Climate Action for (My) Children," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 81(1), pages 95-130, January.

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