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play, if any, in assessing climate regulation policies, and are offering recommendations as to how this methodology can be … identity has for the relevance of conventional cost-benefit analysis for climate regulation policy. I also discuss and … application of cost-benefit analysis to climate regulation policy …
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This paper uses the Kaldor-Hicks compensation principle to compute the present value (PV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PV of future generations' willingness to pay (WTP) and the PV of their...
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Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per...
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