Stern and his critics on discounting and climate change

This review will focus on the question of discounting. The paper begins with an outline of the expected utility model used in the Stern Review. Next, the question of ‘inherent discounting’, that is, the idea that future outcomes should be discounted simply because they are in the future, is examined, along with the closely related concept of the pure rate of time preference. This discussion forms the basis for an assessment of the approaches to discounting and climate change adopted by the Stern Review and by its critics.


Issue Date:
Jun 19 2007
Publication Type:
Working or Discussion Paper
Record Identifier:
http://ageconsearch.umn.edu/record/152087
PURL Identifier:
http://purl.umn.edu/152087
Total Pages:
16
JEL Codes:
Q00
Series Statement:
Climate Change
C07_1




 Record created 2017-04-01, last modified 2018-01-22

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