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| HAL : halshs-00000680, version 2 |
| Fiche détaillée |  Récupérer au format |
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| Environmental and Resource Economics 28, 2 (2004) 195-207 |
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| Versions disponibles : | v1 (07-10-2003) | v2 (19-07-2005) |
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| Risk aversion, intergenerational equity and climate change. |
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| Minh Ha-Duong 1Nicolas Treich 2 |
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| (06/2004) |
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| The paper investigates a climate-economy model with an iso-elastic welfare function in which one parameter gamma measures relative risk-aversion and a distinct parameter rho measures resistance to intertemporal substitution. We show both theoretically and numerically that climate policy responds differently to variations in the two parameters. In particular, we show that higher gamma but lower rho leads to increase emissions control. We also argue that climate-economy models based on intertemporal expected utility maximization, i.e. models where gamma = rho, may misinterpret the sensitivity of the climate policy to risk-aversion. |
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| 1 : | Centre International de Recherche sur l'Environnement et le Développement (CIRED) |
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CIRAD : UMR56 – CNRS : UMR8568 – Ecole des Hautes Etudes en Sciences Sociales (EHESS) – Ecole des Ponts ParisTech – Ecole Nationale du Génie Rural des Eaux et Forêts |
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| 2 : | Laboratoire d'Economie de l'Environnement et des Ressources Naturelles (LEERNA) |
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INRA – Université des Sciences Sociales - Toulouse I |
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| Discipline | : | Sciences de l'Homme et Société/Economie et finances |
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| risk aversion – equity – discounting – climate change |
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| Liste des fichiers attachés à ce document : | |||||
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| halshs-00000680, version 2 | |
| http://halshs.archives-ouvertes.fr/halshs-00000680 | |
| oai:halshs.archives-ouvertes.fr:halshs-00000680 | |
| Contributeur : Minh Ha-Duong | |
| Soumis le : Lundi 18 Juillet 2005, 23:57:26 | |
| Dernière modification le : Mardi 19 Juillet 2005, 16:42:31 | |
