Discounting and welfare analysis over time: Choosing the [eta]
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Anthony B. Atkinson, 2001. "The Strange Disappearance of Welfare Economics," Kyklos, Wiley Blackwell, vol. 54(2‐3), pages 193-206, May.
- Ireland, Norman J., 1998. "Status-seeking, income taxation and efficiency," Journal of Public Economics, Elsevier, vol. 70(1), pages 99-113, October.
- Asheim, Geir B. & Buchholz, Wolfgang & Tungodden, Bertil, 2001.
"Justifying Sustainability,"
Journal of Environmental Economics and Management, Elsevier, vol. 41(3), pages 252-268, May.
- Asheim,G.B. & Buchholz,W. & Tungodden,B., 1999. "Justifying sustainability," Memorandum 08/1999, Oslo University, Department of Economics.
- Asheim, G.B. & Buchholz, W. & Tungodden, B., 1999. "Justifying Sustainability," Papers 5/99, Norwegian School of Economics and Business Administration-.
- Geir B. Asheim & Wolfgang Buchholz, 2003.
"The Malleability of Undiscounted Utilitarianism as a Criterion of Intergenerational Justice,"
Economica,
London School of Economics and Political Science, vol. 70(279), pages 405-422, August.
- Geir B. Asheim & Wolfgang Buchholz, 2000. "The Malleability of Undiscounted Utilitarianism as a Criterion of Intergenerational Justice," CESifo Working Paper Series 392, CESifo Group Munich.
- Asheim,G.B. & Buchholz,W., 2000. "The malleability of undiscounted utilitarianism as a criterion of intergenerational justice," Memorandum 37/2000, Oslo University, Department of Economics.
- Richard Zeckhauser & W. Viscusi, 2008. "Discounting dilemmas: Editors’ introduction," Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 95-106, December.
- Lawrence Summers & Richard Zeckhauser, 2008.
"Policymaking for posterity,"
Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 115-140, December.
- Summers, Lawrence & Zeckhauser, Richard, 2008. "Policymaking for Posterity," Working Paper Series rwp08-040, Harvard University, John F. Kennedy School of Government.
- Lawrence H. Summers & Richard J. Zeckhauser, 2008. "Policymaking for Posterity," NBER Working Papers 14359, National Bureau of Economic Research, Inc.
- Anthony B. Atkinson & Andrea Brandolini, 2010.
"On Analyzing the World Distribution of Income,"
The World Bank Economic Review, World Bank Group, vol. 24(1), pages 1-37, January.
- Anthony B. Atkinson & Andrea Brandolini, 2008. "On analysing the world distribution of income," Working Papers 97, ECINEQ, Society for the Study of Economic Inequality.
- Anthony Barnes Atkinson & Andrea Brandolini, 2009. "On analysing the world distribution of income," Temi di discussione (Economic working papers) 701, Bank of Italy, Economic Research and International Relations Area.
- Christian Josef Bauer & Wolfgang Buchholz, 2008. "How Changing Prudence and Risk Aversion Affect Optimal Saving," CESifo Working Paper Series 2438, CESifo.
- Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
- Hans-Werner Sinn, 2008.
"Public policies against global warming: a supply side approach,"
International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 15(4), pages 360-394, August.
- Sinn, Hans-Werner, 2008. "Public policies against global warming: A supply side approach," Munich Reprints in Economics 19638, University of Munich, Department of Economics.
- Varian, Hal R., 1974.
"Equity, envy, and efficiency,"
Journal of Economic Theory, Elsevier, vol. 9(1), pages 63-91, September.
- H. R. Varian, 1973. "Equity, Envy and Efficiency," Working papers 115, Massachusetts Institute of Technology (MIT), Department of Economics.
- Broome, John, 2006.
"Weighing Lives,"
OUP Catalogue,
Oxford University Press, number 9780199297702, Decembrie.
- Broome, John, 2004. "Weighing Lives," OUP Catalogue, Oxford University Press, number 9780199243761, Decembrie.
- David J. Evans & Haluk Sezer, 2005. "Social discount rates for member countries of the European Union," Journal of Economic Studies, Emerald Group Publishing, vol. 32(1), pages 47-59, January.
- Jukka Pirttilä & Roope Uusitalo, 2010.
"A ‘Leaky Bucket’ in the Real World: Estimating Inequality Aversion using Survey Data,"
Economica, London School of Economics and Political Science, vol. 77(305), pages 60-76, January.
- Jukka Pirttilä & Roope Uusitalo, 2007. "Leaky Bucket in the Real World: Estimating Inequality Aversion Using Survey Data," CESifo Working Paper Series 2026, CESifo.
- Jukka Pirttilä & Roope Uusitalo, 2007. "Leaky Bucket in the Real World: Estimating Inequality Aversion Using Survey Data," Working Papers 231, Työn ja talouden tutkimus LABORE, The Labour Institute for Economic Research LABORE.
- Pasquale Scaramozzino & Giancarlo Marini, 2000.
"Social time preference,"
Journal of Population Economics, Springer;European Society for Population Economics, vol. 13(4), pages 639-645.
- Giancarlo Marini & Pasquale Scaramozzino, 1999. "Social Time Preference," Working Papers 65, Department of Economics, SOAS University of London, UK.
- Padilla, Emilio, 2002. "Intergenerational equity and sustainability," Ecological Economics, Elsevier, vol. 41(1), pages 69-83, April.
- Epstein, Larry G & Zin, Stanley E, 1991. "Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: An Empirical Analysis," Journal of Political Economy, University of Chicago Press, vol. 99(2), pages 263-286, April.
- Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
- Olson, Mancur & Bailey, Martin J, 1981. "Positive Time Preference," Journal of Political Economy, University of Chicago Press, vol. 89(1), pages 1-25, February.
- Martin L. Weitzman, 2007. "A Review of the Stern Review on the Economics of Climate Change," Journal of Economic Literature, American Economic Association, vol. 45(3), pages 703-724, September.
- Yoram Amiel & John Creedy & Stan Hurn, 1999. "Measuring Attitudes Towards Inequality," Scandinavian Journal of Economics, Wiley Blackwell, vol. 101(1), pages 83-96, March.
- Armin Falk & Markus Knell, 2004.
"Choosing the Joneses: Endogenous Goals and Reference Standards,"
Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(3), pages 417-435, October.
- Falk, Armin & Knell, Markus, 2004. "Choosing the Joneses: Endogenous Goals and Reference Standards," CEPR Discussion Papers 4459, C.E.P.R. Discussion Papers.
- Falk, Armin & Knell, Markus, 2004. "Choosing the Joneses: Endogenous Goals and Reference Standards," IZA Discussion Papers 1152, Institute of Labor Economics (IZA).
- Fredrik Carlsson & Dinky Daruvala & Olof Johansson-Stenman, 2005.
"Are People Inequality-Averse, or Just Risk-Averse?,"
Economica,
London School of Economics and Political Science, vol. 72(3), pages 375-396, August.
- Carlsson, Fredrik & Daruvala, Dinky & Johansson-Stenman, Olof, 2001. "Are People Inequality Averse Or Just Risk Averse?," Working Papers in Economics 43, University of Gothenburg, Department of Economics.
- Frank, Robert H. & Hutchens, Robert M., 1993. "Wages, seniority, and the demand for rising consumption profiles," Journal of Economic Behavior & Organization, Elsevier, vol. 21(3), pages 251-276, August.
- Amartya K. Sen, 1967. "Isolation, Assurance and the Social Rate of Discount," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 81(1), pages 112-124.
- Stern,Nicholas, 2007. "The Economics of Climate Change," Cambridge Books, Cambridge University Press, number 9780521700801.
- John Creedy, 2006. "Evaluating Policy: Welfare Weights And Value Judgements," Department of Economics - Working Papers Series 971, The University of Melbourne.
- David J. Evans, 2005. "The elasticity of marginal utility of consumption: estimates for 20 OECD countries," Fiscal Studies, Institute for Fiscal Studies, vol. 26(2), pages 197-224, June.
- Shane Frederick & George Loewenstein, 2008. "Conflicting motives in evaluations of sequences," Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 221-235, December.
- Christian Gollier, 2008.
"Discounting with fat-tailed economic growth,"
Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 171-186, December.
- GOLLIER Christian, 2008. "Discounting with fat-tailed economic growth," LERNA Working Papers 08.19.263, LERNA, University of Toulouse.
- Gollier, Christian, 2008. "Discounting with Fat-Tailed Economic Growth," IDEI Working Papers 523, Institut d'Économie Industrielle (IDEI), Toulouse.
- Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, Decembrie.
- Rogers, Alan R, 1994. "Evolution of Time Preference by Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 460-481, June.
- Partha Dasgupta, 2008. "Discounting climate change," Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 141-169, December.
- Nyborg, Karine, 2000. "Homo Economicus and Homo Politicus: interpretation and aggregation of environmental values," Journal of Economic Behavior & Organization, Elsevier, vol. 42(3), pages 305-322, July.
- Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
- Dasgupta, Partha, 2001. "Human Well-Being and the Natural Environment," OUP Catalogue, Oxford University Press, number 9780199247882, Decembrie.
- Donald Meyer & Jack Meyer, 2005. "Relative Risk Aversion: What Do We Know?," Journal of Risk and Uncertainty, Springer, vol. 31(3), pages 243-262, December.
- William D. Nordhaus, 2007. "A Review of the Stern Review on the Economics of Climate Change," Journal of Economic Literature, American Economic Association, vol. 45(3), pages 686-702, September.
- Nicholas Stern, 2008. "The Economics of Climate Change," American Economic Review, American Economic Association, vol. 98(2), pages 1-37, May.
- Kreps, David M & Porteus, Evan L, 1978.
"Temporal Resolution of Uncertainty and Dynamic Choice Theory,"
Econometrica, Econometric Society, vol. 46(1), pages 185-200, January.
- David M Kreps & Evan L Porteus, 1978. "Temporal Resolution of Uncertainty and Dynamic Choice Theory," Levine's Working Paper Archive 625018000000000009, David K. Levine.
- Geoffrey Heal, 2008. "Climate Economics: A Meta-Review and Some Suggestions," NBER Working Papers 13927, National Bureau of Economic Research, Inc.
- Olof Johansson-Stenman & Fredrik Carlsson & Dinky Daruvala, 2002. "Measuring Future Grandparents" Preferences for Equality and Relative Standing," Economic Journal, Royal Economic Society, vol. 112(479), pages 362-383, April.
- David J. EVANS, 2006. "Social discount rates for the European Union," Departmental Working Papers 2006-20, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Buchholz Wolfgang & Heindl Peter, 2015. "Ökonomische Herausforderungen des Klimawandels," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 16(4), pages 324-350, December.
- Koji Tokimatsu & Louis Dupuy & Nick Hanley, 2019.
"Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(1), pages 281-307, January.
- Louis Dupuy & Koji Tokimatsu & Nick Hanley, 2017. "Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model," Discussion Papers in Environment and Development Economics 2017-07, University of St. Andrews, School of Geography and Sustainable Development.
- Louis Dupuy & Koji Tokimatsu & Nick Hanley, 2019. "Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model," Post-Print hal-03390215, HAL.
- Tomáš Želinský, 2015. "Nekonzistentnosť časových preferencií ľudí z arginalizovaných rómskych komunít [On inconsistency of time preferences of people from the marginalised roma communities]," Politická ekonomie, Prague University of Economics and Business, vol. 2015(2), pages 204-222.
- Yamaguchi, Rintaro & Shah, Payal, 2020. "Spatial discounting of ecosystem services," Resource and Energy Economics, Elsevier, vol. 62(C).
- Buchholz, Wolfgang & Schymura, Michael, 2012.
"Expected utility theory and the tyranny of catastrophic risks,"
Ecological Economics, Elsevier, vol. 77(C), pages 234-239.
- Buchholz, Wolfgang & Schymura, Michael, 2010. "Expected Utility theory and the tyranny of catastrophic risks," ZEW Discussion Papers 10-059, ZEW - Leibniz Centre for European Economic Research.
- Malakhov, Sergey, 2014. "Money flexibility, price elasticity, and elasticity of marginal utility of consumption," MPRA Paper 55928, University Library of Munich, Germany.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Matthew Adler & David Anthoff & Valentina Bosetti & Greg Garner & Klaus Keller & Nicolas Treich, 2017.
"Priority for the worse-off and the social cost of carbon,"
Nature Climate Change, Nature, vol. 7(6), pages 443-449, June.
- Matthew Adler & David Anthoff & Valentina Bosetti & Greg Garner & Klaus Keller & Nicolas Treich, 2016. "Priority for the Worse Off and the Social Cost of Carbon," CESifo Working Paper Series 6032, CESifo.
- Adler, Matthew & Anthoff, David & Bosetti, Valentina & Garner, Greg & Keller, Klaus & Treich, Nicolas, 2016. "Priority for the Worse Off and the Social Cost of Carbon," MITP: Mitigation, Innovation and Transformation Pathways 244334, Fondazione Eni Enrico Mattei (FEEM).
- Matthew Adler & David Anthoff & Valentina Bosetti & Greg Garner & Klaus Keller & Nicolas Treich, 2016. "Priority for the Worse Off and the Social Cost of Carbon," Working Papers 2016.55, Fondazione Eni Enrico Mattei.
- Aline Chiabai & Ibon Galarraga & Anil Markandya & Unai Pascual, 2013.
"The Equivalency Principle for Discounting the Value of Natural Assets: An Application to an Investment Project in the Basque Coast,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 56(4), pages 535-550, December.
- Aline Chiabai & Ibon Galarraga & Anil Markandya & Unai Pascual, 2011. "The Equivalency Principle for Discounting the Value of Natural Assets: An Application to an Investment Project in the Basque Coast," Working Papers 2011-10, BC3.
- Helgeson, Jennifer & Dietz, Simon & Atkinson, Giles D. & Hepburn, Cameron & Sælen, Håkon, 2009.
"Siblings, not triplets: social preferences for risk, inequality and time in discounting climate change,"
Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-28.
- Atkinson, Giles D. & Dietz, Simon & Helgeson, Jennifer & Hepburn, Cameron & Sælen, Håkon, 2009. "Siblings, not triplets: social preferences for risk, inequality and time in discounting climate change," Economics Discussion Papers 2009-14, Kiel Institute for the World Economy (IfW Kiel).
- Richard Zeckhauser & W. Viscusi, 2008. "Discounting dilemmas: Editors’ introduction," Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 95-106, December.
- Jan Schumacher & Wolfgang Buchholz, 2008. "Discounting and Welfare Analysis Over Time: Choosing the ç," CESifo Working Paper Series 2230, CESifo.
- Pindyck, Robert S., 2012.
"Uncertain outcomes and climate change policy,"
Journal of Environmental Economics and Management, Elsevier, vol. 63(3), pages 289-303.
- Robert S. Pindyck, 2009. "Uncertain Outcomes and Climate Change Policy," NBER Working Papers 15259, National Bureau of Economic Research, Inc.
- Robert S. Pindyck, 2009. "Uncertain Outcomes and Climate Change Policy," Working Papers 0907, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
- Fleurbaey, Marc & Zuber, Stéphane, 2015.
"Discounting, beyond utilitarianism,"
Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-52.
- Fleurbaey, Marc & Zuber, Stéphane, 2014. "Discounting, beyond utilitarianism," Economics Discussion Papers 2014-40, Kiel Institute for the World Economy (IfW Kiel).
- Stéphane Zuber & Marc Fleurbaey, 2015. "Discounting, beyond Utilitarianism," PSE-Ecole d'économie de Paris (Postprint) hal-01300618, HAL.
- Stéphane Zuber & Marc Fleurbaey, 2015. "Discounting, beyond Utilitarianism," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01300618, HAL.
- Stéphane Zuber & Marc Fleurbaey, 2015. "Discounting, beyond Utilitarianism," Post-Print hal-01300618, HAL.
- Stéphane Zuber & Marc Fleurbaey, 2015. "Discounting, beyond Utilitarianism," PSE - Labex "OSE-Ouvrir la Science Economique" hal-01300618, HAL.
- Marc Fleurbaey & Stephane Zuber, 2014. "Discounting, beyond utilitarianism," Working Papers 060-2014, Princeton University, Department of Economics, Econometric Research Program..
- Johansson-Stenman, Olof & Sterner, Thomas, 2015.
"Discounting and relative consumption,"
Journal of Environmental Economics and Management, Elsevier, vol. 71(C), pages 19-33.
- Johansson-Stenman, Olof & Sterner, Thomas, 2011. "Discounting and Relative Consumption," RFF Working Paper Series dp-11-38, Resources for the Future.
- Johansson-Stenman, Olof & Sterner, Thomas, 2013. "Discounting and Relative Consumption," Working Papers in Economics 559, University of Gothenburg, Department of Economics.
- David Anthoff & Johannes Emmerling, 2019.
"Inequality and the Social Cost of Carbon,"
Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 6(2), pages 243-273.
- David Anthoff & Johannes Emmerling, 2016. "Inequality and the Social Cost of Carbon," Working Papers 2016.54, Fondazione Eni Enrico Mattei.
- David Anthoff & Johannes Emmerling, 2016. "Inequality and the Social Cost of Carbon," CESifo Working Paper Series 5989, CESifo.
- Anthoff, David & Emmerling, Johannes, 2016. "Inequality and the Social Cost of Carbon," MITP: Mitigation, Innovation and Transformation Pathways 244332, Fondazione Eni Enrico Mattei (FEEM).
- Zuber, Stéphane & Asheim, Geir B., 2012.
"Justifying social discounting: The rank-discounted utilitarian approach,"
Journal of Economic Theory, Elsevier, vol. 147(4), pages 1572-1601.
- Stéphane Zuber & Geir B. Asheim, 2010. "Justifying Social Discounting: The Rank-Discounted Utilitarian Approach," CESifo Working Paper Series 3192, CESifo.
- ZUBER, Stéphane, 2010. "Justifying social discounting: the rank-discounted utilitarian approach," LIDAM Discussion Papers CORE 2010036, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Michalis Skourtos & Dimitris Damigos & Areti Kontogianni & Christos Tourkolias & Alistair Hunt, 2019. "Embedding Preference Uncertainty for Environmental Amenities in Climate Change Economic Assessments: A “Random” Step Forward," Economies, MDPI, vol. 7(4), pages 1-22, October.
- Antony Millner, 2013. "On Welfare Frameworks and Catastrophic Climate Risks," CESifo Working Paper Series 4442, CESifo.
- Louis Kaplow & David Weisbach, 2011. "Discount rates, social judgments, individuals’ risk preferences, and uncertainty," Journal of Risk and Uncertainty, Springer, vol. 42(2), pages 125-143, April.
- Boyarchenko, Svetlana & Levendorskii, Sergei, 2010. "Discounting when income is stochastic and climate change policies," MPRA Paper 27998, University Library of Munich, Germany.
- Ben Groom & David Maddison Pr., 2019.
"New Estimates of the Elasticity of Marginal Utility for the UK,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(4), pages 1155-1182, April.
- Groom, Ben & Maddison, David, 2018. "New estimates of the elasticity of marginal utility for the UK," LSE Research Online Documents on Economics 87526, London School of Economics and Political Science, LSE Library.
- Millner, Antony, 2013. "On welfare frameworks and catastrophic climate risks," Journal of Environmental Economics and Management, Elsevier, vol. 65(2), pages 310-325.
- Simon Dietz & David Maddison, 2009. "New Frontiers in the Economics of Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 43(3), pages 295-306, July.
- Santiago Burone & Martin Leites, 2021. "Self-centered and non-self-centered inequality aversion matter: Evidence from Uruguay based on an experimental survey," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 19(2), pages 265-291, June.
- Antonio Nesticò & Gabriella Maselli & Patrizia Ghisellini & Sergio Ulgiati, 2023. "A Dual Probabilistic Discounting Approach to Assess Economic and Environmental Impacts," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 85(1), pages 239-265, May.
- David Anthoff & Richard Tol, 2009.
"The Impact of Climate Change on the Balanced Growth Equivalent: An Application of FUND,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 43(3), pages 351-367, July.
- David Anthoff & Richard S. J. Tol, 2008. "The Impact of Climate Change on the Balanced-Growth-Equivalent: An Application of FUND," Papers WP228, Economic and Social Research Institute (ESRI).
More about this item
Keywords
Ramsey equation Discounting Sustainability Circumstance solidarity No-envy;Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:poleco:v:26:y:2010:i:3:p:372-385. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505544 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.