Intertemporal Welfare Economics and the Environment

52 Pages Posted: 20 Dec 2001  

Geoffrey M. Heal

Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)

Multiple version iconThere are 2 versions of this paper

Date Written: February 2001

Abstract

I review the complex welare economic issues that arise in environmental decision-making over very long periods of time, as in the case of climate change, biodiversity loss and nuclear waste disposal. I also consider the questions that have to be resolved in choosing a discount rate to apply to very long-run projects and indicate how such rates should be chosen.

Keywords: Environment, welare economics, intergenerational equity, discount rate, climate change, biodiversity, Rawls, utilitarianism

JEL Classification: C43, D60, H00, I30

Suggested Citation

Heal, Geoffrey M., Intertemporal Welfare Economics and the Environment (February 2001). Available at SSRN: https://ssrn.com/abstract=279110 or http://dx.doi.org/10.2139/ssrn.279110

Geoffrey M. Heal (Contact Author)

Columbia Business School - Finance and Economics ( email )

3022 Broadway
New York, NY 10027
United States
212-854-6459 (Phone)
212-316-9219 (Fax)

HOME PAGE: http://www.gsb.columbia.edu/faculty/gheal/

National Bureau of Economic Research (NBER)

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Cambridge, MA 02138
United States

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