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	Provedor de dados 31 (15) 7 (1) Autor Traeger, Christian P. (3) Hamilton, Stephen F. (2) Karp, Larry S. (2) Pofahl, Geoffrey M. (2) Richards, Timothy J. (2) Tsur, Yacov (2) Bathgate, Andrew D. (1) Brock, William A.; University of Wisconsin-Madison; WBrock@ssc.wisc.edu (1) Cacho, Oscar J. (1) Carpenter, Stephen R; University of Wisconsin-Madison; srcarpen@wisc.edu (1) Cherchi, Elisabetta (1) Farzin, Y. Hossein (1) Ferrini, Silvia (1) Hean, Robyn L. (1) Hume, Iain H. (1) Kopp, Raymond J. (1) Ludwig, Donald; University of British Columbia; Ludwig@math.ubc.ca (1) Menz, Kenneth M. (1) Newell, Richard G. (1) Nordblom, Thomas L. (1) Mais... Palavra-chave Discounting (16) Q54 (6) Uncertainty (5) Environmental Economics and Policy (4) D61 (3) D63 (3) D81 (3) D90 (3) H43 (3) Intergenerational equity (3) Risk and Uncertainty (3) Addiction (2) Ambiguity (2) C61 (2) C73 (2) C91 (2) Climate change (2) Consumer/Household Economics (2) D12 (2) D91 (2) Mais... Tipo do documento Working or Discussion Paper (8) Conference Paper or Presentation (3) Journal Article (2) Working Paper (2) Peer-Reviewed Insight (1) Ano 2012 (1) 2011 (1) 2010 (2) 2009 (2) 2008 (2) 2007 (2) 2006 (1) 2005 (1) 2003 (1) 2001 (2) 1997 (1) Mais... País United States (15) Canada (1) Idioma Inglês (15) Alemão (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 16 Primeira ... 1 ... Última A Choice Modelling Approach for Assessment of Use and Quasi-Option Values in Urban Planning for Areas of Environmental Interest 31 Strazzera, Elisabetta; Cherchi, Elisabetta; Ferrini, Silvia. This study adopts a discrete choice modelling methodology to evaluate individuals’ preferences over planning alternatives for an urban site of environmental interest. Since such projects involve some uncertainty and irreversibility, a special attention is devoted to the estimation of the quasi-option values which are associated to project development. Two distinct measures for the quasi-option value are estimated, and both coefficients indicate that the public places a significant value on reduction of the possibility of adverse irreversible effects: a more prudent development strategy is valued about four times more than a procedure that provides a lesser hedge against undesired outcomes. Furthermore, the study involved elicitation of intertemporal... Tipo: Working or Discussion Paper Palavras-chave: Urban Planning; Environmental Values; Choice Modelling; Use Values; Quasi-option Values; Discounting; C35; Q51; R41. Ano: 2008 URL: http://purl.umn.edu/42903 DISCOUNTING AND CLIMATE CHANGE POLICY 31 Karp, Larry S.; Tsur, Yacov. A constant social discount rate cannot reflect both a reasonable opportunity cost of public funds and an ethically defensible concern for generations in the distant future. We use a model of hyperbolic discounting that achieves both goals. We imbed this discounting model in a simple climate change model to calculate constant equivalent discount rates" and plausible levels of expenditure to control climate change. We compare these results to discounting assumptions and policy recommendations in the Stern Review on Climate Change. Tipo: Working or Discussion Paper Palavras-chave: Discounting; Climate change modeling; Stern Review; Markov Perfect Equilibria; Environmental Economics and Policy; C61; C73; D63; D99; Q54. Ano: 2007 URL: http://purl.umn.edu/7149 Discounting and confidence 31 Traeger, Christian P.. Revision of CUDARE Working Paper 1117 issued June 2011 Tipo: Working Paper Palavras-chave: Uncertainty; Discounting; Climate change; Ambiguity; Confidence; Subjective beliefs; Prudence; Pessimism; Expected utility; Intertemporal substitutability; Intertemporal risk aversion; Risk and Uncertainty; D61; Q54; D81; D90. Ano: 2011 URL: http://purl.umn.edu/120418 Discounting the Distant Future: How Much Do Uncertain Rates Increase Valuations? 31 Newell, Richard G.; Pizer, William A.. Costs and benefits in the distant future-such as those associated with global warming, long-lived infrastructure, hazardous and radioactive waste, and biodiversity-often have little value today when measured with conventional discount rates. We demonstrate that when the future path of this conventional rate is uncertain and persistent (i.e., highly correlated over time), the distant future should be discounted at lower rates than suggested by the current rate. We then use two centuries of data on U.S. interest rates to quantify this effect. Using both random walk and mean-reverting models, we compute the certainty-equivalent rate that is, the single discount rate that summarizes the effect of uncertainty and measures the appropriate forward rate of... Tipo: Working or Discussion Paper Palavras-chave: Discounting; Uncertainty; Interest rate forecasting; Climate policy; Intergenerational equity; Risk and Uncertainty; D90; E47; C53; H43; Q28. Ano: 2001 URL: http://purl.umn.edu/10743 Endogenous Discounting and Climate Policy 31 Tsur, Yacov; Zemel, Amos. Under risk of abrupt climate change, the occurrence hazard is added to the social discount rate. As a result, the social discount rate (i) increases and (ii) turns endogenous to the global warming policy. The second effect bears profound policy implications that are magnified by economic growth. In particular, we find that greenhouse gases (GHG) emission should be terminated at a finite time so that the ensuing occurrence risk will vanish in the long run. Due to the public bad nature of the catastrophic risk, the second effect is ignored in a competitive allocation and unregulated economic growth will give rise to excessive emissions. In fact, the GHG emission paths under the optimal and competitive growth regimes lie at the extreme ends of the range of... Tipo: Working or Discussion Paper Palavras-chave: Abrupt climate change; Hazard rate; Discounting; Economic growth; Emission policy; H23; H41; O13; O40; Q54; Q58. Ano: 2008 URL: http://purl.umn.edu/37944 Mathematical optimisation of drainage and economic land use for target water and salt yields 31 Nordblom, Thomas L.; Hume, Iain H.; Bathgate, Andrew D.; Reynolds, Michael. Land managers in upper catchments are being asked to make expensive changes in land use, such as by planting trees, to attain environmental service targets, including reduced salt loads in rivers, to meet needs of downstream towns, farms and natural habitats. End-of-valley targets for salt loads have sometimes been set without a quantitative model of cause and effect regarding impacts on water yields, economic efficiency or distribution of costs and benefits among stakeholders. This paper presents a method for calculating a ‘menu’ of technically feasible options for changes from current to future mean water yields and salt loads from upstream catchments having local groundwater flow systems, and the land-use changes to attain each of these options at... Tipo: Journal Article Palavras-chave: Discounting; Landuse; NPV; Opportunity-cost; Salinity; Resource /Energy Economics and Policy. Ano: 2006 URL: http://purl.umn.edu/116973 Mock Referenda for Intergenerational Decision-making 31 Kopp, Raymond J.; Portney, Paul R.. Traditional applications of benefit-cost analysis make use of what we refer to as the "damage function and discounting" (or DFD) approach. This approach is well-suited to the analysis of projects for which the principal benefits and costs occur within the next thirty to forty years, say. However, for projects with significant intergenerational consequences--i.e., impacts that do not arise for hundreds of years or more--the DFD approach becomes almost intractable. We propose an alternative conception of benefit-cost analysis for intergenerational decision-making--the mock referendum--that is: (i) arguably more consistent with the tenets of modern welfare economics; (ii) more amenable to the analysis of long-term projects or policies; and (iii) consistent... Tipo: Working or Discussion Paper Palavras-chave: Discounting; Non-market valuation; Intergenerational equity; Contingent valuation; Labor and Human Capital; D6; H4. Ano: 1997 URL: http://purl.umn.edu/10745 Obesity and Hyperbolic Discounting: An Experimental Analysis 31 Richards, Timothy J.; Hamilton, Stephen F.; Pofahl, Geoffrey M.. Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent with rational behavior. We construct an experiment to test our hypothesis and to determine whether discount rates differ for individuals who engage in behaviors that could endanger their health. Our results show that discount functions are quasi-hyperbolic in shape, and that obesity and drinking are positively related to the discount rate. Anti-obesity policy, therefore, would be best directed to informing individuals as to the long-term implications of short-term... Tipo: Conference Paper or Presentation Palavras-chave: Addiction; Discounting; Experiments; Hyperbolic; Obesity; Time-inconsistency.; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Health Economics and Policy; Institutional and Behavioral Economics; C91; D12; D91; I18.. Ano: 2010 URL: http://purl.umn.edu/61186 OBESITY AND HYPERBOLIC DISCOUNTING: AN EXPERIMENTAL ANALYSIS 31 Richards, Timothy J.; Hamilton, Stephen F.; Pofahl, Geoffrey M.. Behavioral economists maintain that addictions such as alcoholism, smoking and over-eating represent examples of present-bias in decision making that is fundamentally irrational. In this article, we develop a model of present bias and apparently hyperbolic discounting that is fully consistent with rational behavior. We construct an experiment to test our hypothesis and to determine whether discount rates differ for individuals who engage in behaviors that could endanger their health. Our results show that discount functions are quasi-hyperbolic in shape, and that obesity and drinking are positively related to the discount rate. Anti-obesity policy, therefore, would be best directed to informing individuals as to the long-term implications of short-term... Tipo: Conference Paper or Presentation Palavras-chave: Addiction; Discounting; Experiments; Hyperbolic; Obesity; Time-inconsistency; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Health Economics and Policy; C91; D12; D91; I18. Ano: 2010 URL: http://purl.umn.edu/116410 Sacrifice, discounting and climate policy: five questions 31 Karp, Larry S.. I provide a selective review of discounting and climate policy. After reviewing evidence on the importance of the discount rate in setting policy, I ask whether standard models tend to exaggerate the sacrifices that the current generation needs to undertake in order to internalize climate damages. I then consider whether the risk of catastrophic damage really overwhelms discounting, in the determination of optimal policy. I revisit the question of how we actually think about the distant future. Tipo: Working or Discussion Paper Palavras-chave: Climate change; Discounting; Intergenerational conflict; Catastrophic risk; Hyperbolic discounting; Environmental Economics and Policy; Research Methods/ Statistical Methods; Resource /Energy Economics and Policy; C61; C73; D63; D99; Q54. Ano: 2009 URL: http://purl.umn.edu/51612 Sustainability and Optimality in Economic Development: Theoretical Insights and Policy Prospects 31 Farzin, Y. Hossein. This paper takes sustainability to be a matter of intergenerational welfare equality and examines whether an optimal development path can also be sustainable. It argues that the general “zero-net-aggregate-investment” condition for an optimal development path to be sustainable in the sense of the maximin criterion of intergenerational justice is too demanding to be practical, especially in the context of developing countries. The maximin criterion of sustainability may be more appealing to the rich advanced industrial countries, but is too costly and ethically unreasonable for developing nations as it would act as an intergenerational “poverty equalizer”. The paper suggests that a compromise development policy that follows the optimal growth approach but... Tipo: Working or Discussion Paper Palavras-chave: Sustainability; Intergenerational equity; Optimality; Discounting; Development policy; International Development; Q01; Q56; O21; O13; D62; D63. Ano: 2007 URL: http://purl.umn.edu/7447 Temporary carbon storage and discount rates 31 Hean, Robyn L.; Cacho, Oscar J.; Menz, Kenneth M.. Several approaches have been proposed for accounting for temporary carbon sequestration in land-use change and forestry projects that are implemented to offset permanent emissions of carbon dioxide from the energy sector. In a previous paper, we evaluated the incentives provided by some of these approaches. In this paper, we investigate further what we call the “ideal” accounting system, where the forest owner would be paid for carbon sequestration as the service is provided and redeem payments when the forest is harvested and carbon is released back into the atmosphere. We demonstrate how discounting affects the net present value of the forest when carbon sequestration is taken into account under this ideal system. Not all carbon is released back into the... Tipo: Conference Paper or Presentation Palavras-chave: Carbon accounting; Reforestation; Discounting; Bioeconomics; Environmental Economics and Policy; Land Economics/Use. Ano: 2003 URL: http://purl.umn.edu/57888 The Social Discount Rate under Intertemporal Risk Aversion and Ambiguity 31 Traeger, Christian P.. The social discount rate crucially determines optimal mitigation policies. This paper examines two shortcomings of the recent debate and the models on climate change assessment. First, removing an implicit assumption of (intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the importance of risk and correlation. Second, debate and models largely overlook the difference in attitude with respect to risk and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic social discount rate and points out the importance of even thin tailed uncertainty for climate change evaluation. Tipo: Working or Discussion Paper Palavras-chave: Ambiguity; Discounting; Expected utility; Intertemporal substitutability; Intertemporal risk aversion; Recursive utility; Risk aversion; Social discount rate; Uncertainty; Political Economy; Risk and Uncertainty; D61; D81; D90; H43; Q00; Q54. Ano: 2009 URL: http://purl.umn.edu/55785 Uncertainty in Discount Models and Environmental Accounting 7 Ludwig, Donald; University of British Columbia; Ludwig@math.ubc.ca; Brock, William A.; University of Wisconsin-Madison; WBrock@ssc.wisc.edu; Carpenter, Stephen R; University of Wisconsin-Madison; srcarpen@wisc.edu. Cost-benefit analysis (CBA) is controversial for environmental issues, but is nevertheless employed by many governments and private organizations for making environmental decisions. Controversy centers on the practice of economic discounting in CBA for decisions that have substantial long-term consequences, as do most environmental decisions. Customarily, economic discounting has been calculated at a constant exponential rate, a practice that weights the present heavily in comparison with the future. Recent analyses of economic data show that the assumption of constant exponential discounting should be modified to take into account large uncertainties in long-term discount rates. A proper treatment of this uncertainty requires that we consider returns... Tipo: Peer-Reviewed Insight Palavras-chave: Atlantic right whale; Cost-benefit analysis; Discounting; Ecological economics; Ecosystem service; Eutrophication; Renewable resource; Uncertainty. Ano: 2005 What's the Rate? Disentangling the Weitzman and the Gollier Effect 31 Traeger, Christian P.. The uncertainty of future economic development affects the term structure of discount rates and, thus, the intertemporal weights that are to be used in cost benefit analysis. The U.K. and France have recently adopted a falling term structure to incorporate uncertainty and the U.S. is considering a similar step. A series of publications discusses the following concern: A seemingly analogous argument used to justify falling discount rates can also be used to justify increasing discount rates. We show that increasing and decreasing discount rates mean different things, can coexist, are created by different channels through which risk affects evaluation, and have the same qualitative effect of making long-term payoffs more attractive. Tipo: Working Paper Palavras-chave: Benefit cost analysis; Discounting; Term structure; Uncertainty; Weitzman-Gollier puzzle; Environmental Economics and Policy; Public Economics; D61; D81; H43; Q54. Ano: 2012 URL: http://purl.umn.edu/121932 Zeitpräferenz und Zeitkonsistenz: Zur Rationalität sequenzieller Entscheidungen 31 Weikard, Hans-Peter. The paper discusses the problem of discounting, time preference, and time consistent decision making. While a constant pure rate of time preference leads to consistent consumption plans, other discounting schemes – like hyperbolic discounting – do not. Using a so-called money pump argument, time inconsistencies can be shown to be irrational. The paper also explores the use of a hedonic utility concept to explain sequential choice behaviour. Tipo: Journal Article Palavras-chave: Decision theory; Discounting; Time preference; Time consistency; Institutional and Behavioral Economics. Ano: 2001 URL: http://purl.umn.edu/99006 Registros recuperados: 16 Primeira ... 1 ... Última

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