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Now or Never: Environmental Protection under Hyperbolic Discounting

Winkler, Ralph - 2009

The author analyzes the optimal investment in environmental protection in a model of an infinite series of non-overlapping hyperbolically discounting agents. He shows that without a commitment mechanism society is eventually stuck in a situation where all agents prefer further investment in the...

Persistent link: https://www.econbiz.de/10010298585

Now or Never: Environmental Protection under Hyperbolic Discounting

Winkler, Ralph - 2006

In this paper, we extend the well known result that hyperbolically discounting agents tend to postpone costs into the future. In a simple model we show that, without commitment to the ex ante optimal plan, no investment in environmental protection is undertaken over the whole time horizon, no...

Persistent link: https://www.econbiz.de/10011753124

Is Inequality Harmful for the Environment in a Growing Economy?

Kempf, Hubert; Rossignol, Stéphane - 2005

In this paper we investigate the relationship between inequality and the environment in a growing economy from a … the environment. Public expenditures may either be devoted to supporting growth or abating pollution. The decision over … and show that inequality is harmful for the environment: the poorer the median voter relative to the average individual …

Persistent link: https://www.econbiz.de/10010312338