Intertemporal Welfare Economics and the Environment
In: Handbook of Environmental Economics
I review the complex welfare economic issues that arise in environmental decision-making over very long periods, as in cases relating to climate change and biodiversity loss. I also consider the issues that arise in choosing a discount rate to apply to very long-run projects and indicate how such rates should be chosen.
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- Lauwers, Luc, 1993. "Infinite Chichilnisky rules," Economics Letters, Elsevier, vol. 42(4), pages 349-352.
- Geir B. Asheim, 1996. "Ethical preferences in the presence of resource constraints," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 23, pages 55-67.
- Cropper, Maureen L & Aydede, Sema K & Portney, Paul R, 1994. "Preferences for Life Saving Programs: How the Public Discounts Time and Age," Journal of Risk and Uncertainty, Springer, vol. 8(3), pages 243-65, May.
- Bradford, David F, 1975. "Constraints on Government Investment Opportunities and the Choice of Discount Rate," American Economic Review, American Economic Association, vol. 65(5), pages 887-99, December.
- Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
- Weitzman, Martin L., 1998. "Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 201-208, November.
- Cropper, Maureen & Laibson, David, 1998. "The implications of hyperbolic discounting for project evaluation," Policy Research Working Paper Series 1943, The World Bank.
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