Intertemporal Welfare Economics and the Environment

HANDBOOK OF ENVIRONMENTAL ECONOMICS, Karl-Goran Maler, Jeffrey Vincent, eds., Elsevier, 2002

Posted: 8 Jan 2002

See all articles by Geoffrey M. Heal

Geoffrey M. Heal

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

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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. HANDBOOK OF ENVIRONMENTAL ECONOMICS, Karl-Goran Maler, Jeffrey Vincent, eds., Elsevier, 2002, Available at SSRN: https://ssrn.com/abstract=291495

Geoffrey M. Heal (Contact Author)

Columbia Business School - Finance and Economics ( email )

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

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