Endogenous future preferences and conservation

Research output: Contribution to journalArticle

Abstract

A dynamic optimization model is developed in which uncertainty about future preferences is endogenous, namely depending on the state of the environment at the time the change in preferences occurs. Endogeneizing preferences not only provides economic intuition to previous results but also implies that optimal policies are less conservative.

Original languageEnglish
Pages (from-to)253-262
Number of pages10
JournalEnvironmental & Resource Economics
Volume16
Issue number2
DOIs
Publication statusPublished - 2000

Keywords

  • Endogenous future preferences
  • Stock of the environmental asset
  • Uncertainty

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