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1998 will be a big year for both automakers and clean-air advocates. In less than three years, the seven largest car sellers in California must sell zero-emission vehicles (ZEVs) - 2 percent of their sales of vehicles under 3750 lbs loaded weight. Given the size of the current market, that's...
Persistent link: https://www.econbiz.de/10010843198
channels through which risk affects evaluation, and have the samequalitative effect of making long-term payoffs more attractive. …
Persistent link: https://www.econbiz.de/10010676459
Concern about the possible affects of biofuels on deforestation have led to assigning biofuel producers with the responsibility for greenhouse gas (GHG) emissions of the indirect land use changes (ILUC) associated with their activities when assessing their compliance with biofuel policies. We...
Persistent link: https://www.econbiz.de/10010676460
The paper explores the consequences of limited substitutability in welfare between environmental and produced goods for long-term evaluation. I show how the magnitude and time development of optimal social discount rates depend on the substitutability between the different classes of goods. The...
Persistent link: https://www.econbiz.de/10010676472
a recursive dynamic programming framework. Our recursive approach allows us to disentangle effects of risk, risk …
Persistent link: https://www.econbiz.de/10010676481
removes an implicit assumption of (intertemporal or intrinsic) risk neutrality from the standard economic model. Second, the … paper introduces aversion to non-risk uncertainty (ambiguity). Ishow a close formal similarity between the model of … intertemporal risk aversion, which is a reformulation of the widespread Epstein-Zin-Weil model, and a recent model of smooth …
Persistent link: https://www.econbiz.de/10010676519
Few micro-level empirical papers have addressed the impact of the patent system on industry structure. Using firm-level patent data for public and private firms in plant biotechnology, we develop a measure of patent enforceability. Duration models show that patent statistics are a useful...
Persistent link: https://www.econbiz.de/10010676522