Calcul économique et développement durable
The paper considers a model with two goods: a private good and an "environmental" good. The analysis has two basic ingredients : the two goods are imperfectly substitutable and the long run characteristics of substitution are uncertain. An ecological discount rate is defined. It is argued that a plausible long run value for this discount rate is close to zero, at least if the preoccupations of intergenerational equity are strong enough.
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