We study how human preferences affect the resilience of economies that depend on more than one type of natural … interpretation and analysis of resilience, from viewing (limited) resilience as an objective property of the economy …We study how human preferences affect the resilience of economies that depend on more than one type of natural …

the resource). In a discrete-time quasihyperbolic discounting framework with no commitment device, and using only generic …

thereafter, which is inconsistent with exponential discounting but consistent with hyperbolic discounting. The implied marginal … rate of time preference declines and then rises. Estimates of the quasi-hyperbolic discounting parameter range from 0.48 to …

The possibility of non-constant discounting is important in environmental and resource management problems where … non-constant discounting limits their application. We describe and provide software to implement an algorithm to … numerically obtain a Markov Perfect Equilibrium for an optimal control problem with non-constant discounting. The software is …

)actions, the more weight they receive. If uncertainty is endogenous to the decision process, the new rationale for discounting will … preference ; discounting ; uncertainty ; expected utility ; recursive utility ; risk aversion ; intertemporal substitutability …