In this paper I propose a time-consistent method of discounting hyperbolically and apply it to three canonical environmental problems: (i) optimal renewable resource use, (ii) the tragedy of the commons, (iii) economic growth and pollution. I then compare results with those for conventional...

In this paper I propose a time-consistent method of discounting hyperbolically that contains the discount rate implied by Gamma discounting as a special case. I apply the discounting method to three canonical environmental problems: (i) optimal renewable resource use, (ii) the tragedy of the...