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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- Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
- Lauwers, Luc, 1993. "Infinite Chichilnisky rules," Economics Letters, Elsevier, vol. 42(4), pages 349-352.
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