Sustainability in a Risky World

This paper studies the restrictions on consumption, portfolio choice, and social discounting implied by a sustainability constraint, that utility should not be expected to decline over time, in an economy with risky investment opportunities. The sustainability constraint does not distort portfolio choice and implies a consumption-wealth ratio and social discount rate that can be considerably higher than the riskless interest rate

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Year of publication:	[2021]
Authors:	Campbell, John Y. ; Martin, Ian
Publisher:	[S.l.] : SSRN
Subject:	Nachhaltigkeit \| Sustainability \| Nachhaltige Entwicklung \| Sustainable development \| Theorie \| Theory \| Risiko \| Risk \| Investitionsrisiko \| Investment risk \| Risikoaversion \| Risk aversion

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Extent:	1 Online-Ressource (28 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 30, 2021 erstellt
Other identifiers:	10.2139/ssrn.3815370 [DOI]
Classification:	G11 - Portfolio Choice ; H43 - Project Evaluation; Social Discount Rate ; Q01 - Sustainable Development ; Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounting
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013236208