Siblings, Not Triplets: Social Preferences for Risk, Inequality and Time in Discounting Climate Change
Siblings, Not Triplets: Social Preferences for Risk, Inequality and Time in Discounting Climate Change
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兄弟姐妹，而不是三胞胎：社会对风险、不平等和贴现气候变化时间的偏好
DOI：
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发表时间：
2009
期刊：
影响因子：
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通讯作者：
H. Sælen
中科院分区：
文献类型：
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作者：
G. Atkinson;Simon Dietz;J. Helgeson;C. Hepburn;H. Sælen
关于适当贴现率的争论通常从假设一个具有等弹性效用的功利主义社会福利函数开始，其中消费贴现率是边际效用（恒定）弹性和（经常讨论的）效用贴现率的函数。在这个模型中，边际效用的弹性同时反映了对跨期替代的偏好、对风险的厌恶和对（空间）不平等的厌恶。虽然这三个概念在标准模型中必然是相同的，但事实并非如此：众所周知的模型已经能够将风险与跨期替代区分开来。将这三个概念分开可能对适当的贴现率有重要影响，因此也对长期政策有重要影响。本文通过调查3000多人对风险、空间上的收入不平等和时间上的收入不平等的态度，在气候变化经济学的背景下研究了这些问题。结果表明，个人并不认为这三个概念是相同的，事实上，对风险、不平等和时间的偏好只有微弱的相关性。因此，依赖风险或不平等偏好的经验证据可能不一定是指定跨期替代弹性的适当指南。
Abstract Arguments about the appropriate discount rate often start by assuming a Utilitarian social welfare function with isoelastic utility, in which the consumption discount rate is a function of the (constant) elasticity of marginal utility along with the (much discussed) utility discount rate. In this model, the elasticity of marginal utility simultaneously reflects preferences for intertemporal substitution, aversion to risk, and aversion to (spatial) inequality. While these three concepts are necessarily identical in the standard model, this need not be so: well-known models already enable risk to be separated from intertemporal substitution. Separating the three concepts might have important implications for the appropriate discount rate, and hence also for long-term policy. This paper investigates these issues in the context of climate-change economics, by surveying the attitudes of over 3000 people to risk, income inequality over space and income inequality over time. The results suggest that individuals do not see the three concepts as identical, and indeed that preferences over risk, inequality and time are only weakly correlated. As such, relying on empirical evidence of risk or inequality preferences may not necessarily be an appropriate guide to specifying the elasticity of intertemporal substitution.
DOI：
10.1016/j.jeem.2008.05.003
发表时间：
2009-07-01
影响因子：
4.6
作者：
Bateman, Ian J.;Day, Brett H.;Jude, Simon
通讯作者：
Jude, Simon