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.

Sprache
Englisch

Erschienen in
Series: Economics Working Paper Series ; No. 13/188

Klassifikation
Wirtschaft
Project Evaluation; Social Discount Rate
Criteria for Decision-Making under Risk and Uncertainty
Climate; Natural Disasters and Their Management; Global Warming
Thema
rate
risk aversion
Kreps-Porteus-Selden
Risk-Sensitive preferences
uncertain preferences
climate change

Ereignis
Geistige Schöpfung
(wer)
Hector, Svenja
Ereignis
Veröffentlichung
(wer)
ETH Zurich, CER-ETH - Center of Economic Research
(wo)
Zurich
(wann)
2013

DOI
doi:10.3929/ethz-a-010018902
Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Hector, Svenja
  • ETH Zurich, CER-ETH - Center of Economic Research

Entstanden

  • 2013

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