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Endogenous Future Preferences and Conservation

  • Maria Cunha-E-Sá

    ()

  • Clara Costa-Duarte

    ()

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    A dynamic optimization model is developed in whichuncertainty about future preferences is endogenous,namely depending on the state of the environment atthe time the change in preferences occurs.Endogeneizing preferences not only provides economicintuition to previous results but also implies thatoptimal policies are less conservative. Copyright Kluwer Academic Publishers 2000

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    File URL: http://hdl.handle.net/10.1023/A:1008361604063
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    Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

    Volume (Year): 16 (2000)
    Issue (Month): 2 (June)
    Pages: 253-262

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    Handle: RePEc:kap:enreec:v:16:y:2000:i:2:p:253-262
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100263

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    1. Kip Viscusi, W., 1988. "Irreversible environmental investments with uncertain benefit levels," Journal of Environmental Economics and Management, Elsevier, vol. 15(2), pages 147-157, June.
    2. Asbjørn Torvanger, 1997. "Uncertain climate change in an intergenerational planning model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 9(1), pages 103-124, January.
    3. Fisher, Anthony C & Hanemann, W Michael, 1990. " Information and the Dynamics of Environmental Protection: The Concept of the Critical Period," Scandinavian Journal of Economics, Wiley Blackwell, vol. 92(3), pages 399-414.
    4. Arrow, Kenneth J & Fisher, Anthony C, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," The Quarterly Journal of Economics, MIT Press, vol. 88(2), pages 312-19, May.
    5. Ulph, A. & Ulph, D., 1994. "Global warming: why irreversibility may not require lower current emissions of greenhouse gases," Discussion Paper Series In Economics And Econometrics 9402, Economics Division, School of Social Sciences, University of Southampton.
    6. Chichilnisky, Graciela & Beltratti, Andrea & Heal, Geoffrey, 1998. "Uncertain future preferences and conservation," MPRA Paper 7912, University Library of Munich, Germany.
    7. Henry, Claude, 1974. "Investment Decisions Under Uncertainty: The "Irreversibility Effect."," American Economic Review, American Economic Association, vol. 64(6), pages 1006-12, December.
    8. Spash, Clive L. & d'Arge, Ralph C., 1989. "The greenhouse effect and intergenerational transfer," Energy Policy, Elsevier, vol. 17(2), pages 88-96, April.
    9. Fisher, Anthony C. & Hanemann, W. Michael, 1987. "Quasi-option value: Some misconceptions dispelled," Journal of Environmental Economics and Management, Elsevier, vol. 14(2), pages 183-190, June.
    10. Withagen, Cees, 1994. "Pollution and exhaustibility of fossil fuels," Resource and Energy Economics, Elsevier, vol. 16(3), pages 235-242, August.
    11. repec:cup:cbooks:9780521297615 is not listed on IDEAS
    12. Heal, Geoffrey M., 1993. "The optimal use of exhaustible resources," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 18, pages 855-880 Elsevier.
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