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Growth, Environment and Uncertain Future Preferences

  • Alain Le Kama
  • Katheline Schubert

    ()

The attitude of future generations towards environmental assets may well be different from ours, and it is necessary to take into account thispossibility explicitly in the current debate about environmental policy. The question we are addressing here is: should uncertainty about futurepreferences lead to a more conservative attitude towards environment?Previous literature shows that it is the case when society expects that onaverage future preferences will be more in favor of environment than ours,but this result relies heavily on the assumption of a separability betweenconsumption and environmental quality in the utility function. We show thatthings are less simple when preferences are non-separable: the attitude ofthe society now depends not only on the expectation of the change inpreferences but also on the characteristics of the economy (impatience,intertemporal flexibility, natural capacities of regeneration of theenvironment, relative preference for the environment), on its history(initial level of the environmental quality) and on the date at whichpreferences are expected to change (near or far future). Copyright Kluwer Academic Publishers 2004

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File URL: http://hdl.handle.net/10.1023/B:EARE.0000023820.15522.a4
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Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 28 (2004)
Issue (Month): 1 (May)
Pages: 31-53

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Handle: RePEc:kap:enreec:v:28:y:2004:i:1:p:31-53
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  1. Alain Ayong Le Kama, 2012. "Preservation and Endogenous Uncertain Future Preferences," Working Papers 1204, Chaire Economie du Climat.
  2. Philippe Michel & Gilles Rotillon, 1995. "Disutility of pollution and endogenous growth," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 6(3), pages 279-300, October.
  3. Smulders, J.A. & Gradus, R.H.J.M., 1993. "Pollution abatement and long-term growth," Discussion Paper 1993-73, Tilburg University, Center for Economic Research.
  4. Geoffrey Heal & Bengt Kriström, 2002. "Uncertainty and Climate Change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 22(1), pages 3-39, June.
  5. Chichilnisky, Graciela & Beltratti, Andrea & Heal, Geoffrey, 1998. "Uncertain future preferences and conservation," MPRA Paper 7912, University Library of Munich, Germany.
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