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We analyze the role of "the" utility discount rate and its implications to generation-specific and societal altruism and egoism, respectively, in a neoclassical framework. It is worked out clearly, that two different utility discount rates have to be distinguished: An (inverse)...
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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 …
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This survey examines the history and current practice in integrated assessment models (IAMs) of the economics of climate change. It begins with a review of the emerging problem of climate change. The next section provides a brief sketch of the rise of IAMs in the 1970s and beyond. The subsequent...
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