Climate Policy Under Intergenerational Discounting An Applicatio
In this thesis, Orlando Zaddach applies a discounting scheme derived by Krysiak (2010) in the latest DICE model and presents its implications for optimal climate policy. Furthermore, he carries out an one-factor-at-a-time (OFAT) sensitivity analysis to ch
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Springer awards „BestMasters“ to the best master’s theses which have been completed at renowned universities in Germany, Austria, and Switzerland. The studies received highest marks and were recommended for publication by supervisors. They address current issues from various fields of research in natural sciences, psychology, technology, and economics. The series addresses practitioners as well as scientists and, in particular, offers guidance for early stage researchers.
Jonathan Orlando Zaddach
Climate Policy Under Intergenerational Discounting An Application of the Dynamic Integrated Climate-Economy Model
Jonathan Orlando Zaddach Nürnberg, Germany Master Thesis Albert-Ludwigs-University of Freiburg, 2015 u.d.t.: “Climate Policy Under Intergenerational Discounting: An Application of DICE.”
BestMasters ISBN 978-3-658-12133-4 ISBN 978-3-658-12134-1 (eBook) DOI 10.1007/978-3-658-12134-1 Library of Congress Control Number: 2015956103 Springer Gabler © Springer Fachmedien Wiesbaden 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer Gabler is a brand of Springer Fachmedien Wiesbaden Springer Fachmedien Wiesbaden is part of Springer Science+Business Media (www.springer.com)
Climate Policy Under Intergenerational Discounting: An Application of DICE
Abstract: Both consumer sovereignty and intergenerational equity are eligible stances in the discussion on how to weigh future generations against present ones. At best, they should not be played off against each other. Under the representative agent approach, however, one has to take sides, which differ enormously in their consequences for climate policy. Krysiak (2010) shows that this dilemma can be overcome in the framework of an overlapping generations (OLG) model. For a set of normative assumptions, he derives a utility discounting scheme which assigns to all generations equal weights without disregarding their true preferences. In this thesis, we apply the discounting scheme in the l
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