"The authors provide a normative approach to global warming that they call sustainability. It consists in finding an economic path that, while satisfying environmental and other constraints, would maintain human welfare for all future generations. They also explain why the current discounted utilitarian approach is unsatisfactory. The book has many original arguments expressed in a clear, logical structure. It should be required reading for graduate students in public economics."--Phillipe De Donder, Toulouse School of Economics "This book should be of great interest to economists working in the field of climate change, particularly those who would like to explore alternatives to the dominant paradigm of discounted utilitarianism. Rejecting that paradigm, the authors evaluate climate policy using sustainability criteria, requiring either that future generations have the same level of utility as earlier generations or that utility grows by at least a fixed rate."-Larry S. Karp, University of California, Berkeley
Author(s): Humberto Llavador; John E. Roemer; Joaquim Silvestre
Publisher: Harvard University Press
Year: 2015
Language: English
Pages: 335
City: Cambridge, MA
Copyright
Contents
Preface
Introduction
1. Sustainability and Discounted Utilitarianism
APPENDIX 1. THE RAMSEY PROBLEM
2. An Introductory Model with Education and Skilled Labor
APPENDIX 2. PROOFS
3. Sustainability for a Warming World
APPENDIX 3. PROOFS
4. The “Climate-Change Economics” Literature: Nordhaus and Stern
5. Sustainability in a Warming, Two- Region World
APPENDIX 5. FORMAL DETAILS
6. Modeling Catastrophes: Two Extensions
APPENDIX 6. PROOFS AND CALIBRATION
Conclusion
Appendix A: Calibration
Appendix B: Mathematica Code
References
Index
