Arbeitspapier
Accounting for Different Uncertainties: Implications for Climate Investments?
The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a general framework that can cope with various forms of uncertainty, it is shown that the response of the consumption discount rate to a change in risk aversion depends on some fundamental properties of the considered uncertainties. The application of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields a new result on preference uncertainty.
- Language
-
Englisch
- Bibliographic citation
-
Series: Economics Working Paper Series ; No. 13/188
- Classification
-
Wirtschaft
Project Evaluation; Social Discount Rate
Criteria for Decision-Making under Risk and Uncertainty
Climate; Natural Disasters and Their Management; Global Warming
- Subject
-
rate
risk aversion
Kreps-Porteus-Selden
Risk-Sensitive preferences
uncertain preferences
climate change
- Event
-
Geistige Schöpfung
- (who)
-
Hector, Svenja
- Event
-
Veröffentlichung
- (who)
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ETH Zurich, CER-ETH - Center of Economic Research
- (where)
-
Zurich
- (when)
-
2013
- DOI
-
doi:10.3929/ethz-a-010018902
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Hector, Svenja
- ETH Zurich, CER-ETH - Center of Economic Research
Time of origin
- 2013
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