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	Provedor de dados AgEcon (1) Autor Karp, Larry S. (1) Tsur, Yacov (1) Palavra-chave C61 (1) C73 (1) Catastrophic climate change (1) D63 (1) D99 (1) Environmental Economics and Policy (1) Hyperbolic discounting (1) Markov Perfect Equilibria (1) Q54 (1) Resource /Energy Economics and Policy (1) Uncertainty (1) Mais... Tipo do documento Working or Discussion Paper (1) Ano 2008 (1) País United States (1) Idioma Inglês (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 1 Primeira ... 1 ... Última Time perspective and climate change policy AgEcon Karp, Larry S.; Tsur, Yacov. The tendency to foreshorten time units as we peer further into the future provides an explanation for hyperbolic discounting at an intergenerational time scale. We study implications of hyperbolic discounting for climate change policy, when the probability of a climate-induced catastrophe depends on the stock of greenhouse gasses. We provide a positive analysis by characterizing the set of Markov perfect equilibria (MPE) of the intergenerational game amongst a succession of policymakers. Each policymaker reflects her generation’s preferences, including its hyperbolic discounting. For a binary action game, we compare the MPE set to a “restricted commitment” benchmark. We compare the associated “constant equivalent discount rates” and the willingness to pay... Tipo: Working or Discussion Paper Palavras-chave: Hyperbolic discounting; Markov Perfect Equilibria; Catastrophic climate change; Uncertainty; Environmental Economics and Policy; Resource /Energy Economics and Policy; C61; C73; D63; D99; Q54. Ano: 2008 URL: http://purl.umn.edu/42848 Registros recuperados: 1 Primeira ... 1 ... Última

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