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	Provedor de dados AgEcon (3) Autor Karp, Larry S. (3) Tsur, Yacov (2) Palavra-chave C61 (3) C73 (3) Catastrophic risk (3) D63 (3) D99 (3) Environmental Economics and Policy (3) Hyperbolic discounting (3) Q54 (3) Abrupt climate change (2) Event uncertainty (2) Markov Perfect Equilibria (2) Climate change (1) Discounting (1) Intergenerational conflict (1) Research Methods/ Statistical Methods (1) Resource /Energy Economics and Policy (1) Risk and Uncertainty (1) Mais... Tipo do documento Working or Discussion Paper (3) Ano 2009 (1) 2007 (2) País United States (3) Idioma Inglês (3)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 3 Primeira ... 1 ... Última Climate Policy When the Distant Future Matters: Catastrophic Events with Hyperbolic Discounting AgEcon Karp, Larry S.; Tsur, Yacov. Low probability catastrophic climate change can have a significant influence on policy under hyperbolic discounting. We compare the set of Markov Perfect Equilibria (MPE) to the optimal policy under time-consistent commitment. For some initial levels of risk there are multiple MPE; these may involve either excessive or insufficient stabilization effort. These results imply that even if the free-rider problem amongst contemporaneous decision-makers were solved, there may remain a coordination problem amongst successive generations of decision-makers. A numerical example shows that under plausible conditions society should respond vigorously to the threat of climate change. Tipo: Working or Discussion Paper Palavras-chave: Abrupt climate change; Event uncertainty; Catastrophic risk; Hyperbolic discounting; Markov Perfect Equilibria; Environmental Economics and Policy; Risk and Uncertainty; C61; C73; D63; D99; Q54. Ano: 2007 URL: http://purl.umn.edu/7186 CLIMATE POLICY WHEN THE DISTANT FUTURE MATTERS: CATASTROPHIC EVENTS WITH HYPERBOLIC DISCOUNTING AgEcon Karp, Larry S.; Tsur, Yacov. Low probability catastrophic climate change can have a signifcant influence on policy under hyperbolic discounting. We compare the set of Markov Perfect Equilibria (MPE) to the optimal policy under time-consistent commitment. For some initial levels of risk there are multiple MPE; these may involve either excessive or insufficient stabilization effort. These results imply that even if the free-rider problem amongst contemporaneous decision-makers were solved, there may remain a coordination problem amongst successive generations of decision-makers. A numerical example shows that under plausible conditions society should respond vigorously to the threat of climate change. Tipo: Working or Discussion Paper Palavras-chave: Abrupt climate change; Event uncertainty; Catastrophic risk; Hyperbolic discounting; Markov Perfect Equilibria; Environmental Economics and Policy; C61; C73; D63; D99; Q54. Ano: 2007 URL: http://purl.umn.edu/7181 Sacrifice, discounting and climate policy: five questions AgEcon 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 Registros recuperados: 3 Primeira ... 1 ... Última

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