Intertemporal Welfare Economics and the Environment
52 Pages Posted: 20 Dec 2001
Date Written: February 2001
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: Suggested Citation