Discounting and the Economic Costs of Altruism in Greenhouse Gas Abatement.
This paper carries out a numerical thought experiment on greenhouse gas abatement. The main results can be summarized as follows: first, a high degree of intergenerational altruism might support 'sustainable' atmospheric carbon concentration, but imposes high welfare losses on current generations; and second, if agents realize that greenhouse policy is an alternative to investing into physical capital, then even without intergenerational altruism a Pareto-efficient internalization of the external effect of climate change will stabilize the atmospheric carbon concentration at ecologically sustainable levels, but at significantly lower economic costs. Copyright 1998 by WWZ and Helbing & Lichtenhahn Verlag AG
Year of publication: |
1998
|
---|---|
Authors: | Stephan, Gunter ; Muller-Furstenberger, Georg |
Published in: |
Kyklos. - Wiley Blackwell, ISSN 0023-5962. - Vol. 51.1998, 3, p. 321-38
|
Publisher: |
Wiley Blackwell |
Saved in:
Saved in favorites
Similar items by person
-
Muller-Furstenberger, Georg, (2007)
-
Exploring the environmental Kuznets hypothesis: Theoretical and econometric problems
Muller-Furstenberger, Georg, (2007)
-
Exploring the Carbon Kuznets Hypothesis
Muller-Furstenberger, Georg, (2005)
- More ...