Showing papers by "John P. Weyant published in 1999"

Discounting and Intergenerational Equity

Abstract: Foreword Robert M. Solow 1. Introduction Paul R. Portney and John P. Weyant 2. Discounting, Morality, and Gaming Kenneth J. Arrow 3. 'Just Keep Discounting, But...' Martin L. Weitzman 4. Reconciling Philosophy and Economics in Long-Term Discounting: Comments on Arrow and Weitzman Michael A. Toman 5. On the Uses of Benefit-Cost Reasoning in Choosing Policy toward Global Climate Change David F. Bradford 6. A Market-Based Discount Rate: Comments on Bradford W. David Montgomery 7. Intergenerational Equity, Social Discount Rates, and Global Warming Partha Dasgupta, Karl-G ran M ler, and Scott Barrett 8. Substitution and Social Discount Rates: Comments on Dasgupta, M ler, and Barrett V. Kerry Smith 9. Mock Referenda for Intergenerational Decisionmaking Raymond J. Kopp and Paul R. Portney 10. Intergenerational Discounting Thomas C. Schelling 11. Intergenerational Ethics, Efficiency, and Commitment: Comments on Schelling and Kopp and Portney Jerome Rothenberg 12. Equity, Efficiency, and Discounting Alan S. Manne 13. Discounting for the Very Long Term William R. Cline 14. Models and Discount Rates: Comments on Manne and Cline Shantayanan Devarajan 15. Discounting and Public Policies That Affect the Distant Future William D. Nordhaus 16. The Implications of Hyperbolic Discounting for Project Evaluation Maureen Cropper and David Laibson 17. Analysis for Intergenerational Decisionmaking Robert C. Lind Index

The costs of the Kyoto Protocol: a multi-model evaluation

Abstract: This Special Issue of The Energy Journal represents the first comprehensive report on a comparative set of analyses of the economic and energy sector impacts of the Kyoto Protocol on Climate Change. Organized by the Stanford Energy Modeling Forum (EMF), the objectives of this study were the same as for previous EMF studies: (1) identifying policy-relevant insights and analyses that are robust across wide ranges of models, (2) providing explanations for differences in results from different models, and (3) identifying high priority areas for future research. This study has produced a particularly rich set of results in all three areas, which is a tribute to the active participation of the modeling teams and the care each team took in preparing a paper for this volume. The volume consists of 13 papers, one prepared by each modeling team on what it did and what it concluded from the model runs that were undertaken, proceeded by this introduction and summary paper.

Issues in modeling induced technological change in energy, environmental, and climate policy

Abstract: This paper addresses the objective of including Induced Technological Change (ITC) in research and policy models of energy, environment, and climate change. Theoretical foundations, fundamentals, and current methodologies for ITC models are reviewed. In addition, limitations and possible extensions to ITC models are explored. Current approaches to energy-environmental modeling that neglect technological characteristics such as heterogeneity, uncertainty, and path-dependence are likely to underestimate both the impact and the lags in the effectiveness of policy options.

Discounting, Morality, and Gaming

Abstract: 24 December 1996EMF-RFF Conferenceon DiscountingDISCOUNTING, MORALITY, AND GAMING Kenneth J. Arrow1. IntroductionI take the problem of discounting for projects with payoffs inthe far future (climate change, nuclear waste disposal) to belargely ethical (Schelling 1995). There is an apparent conflict inour moral intuitions, already apparent in Ramsey's work (1928).On the one hand, moral considerations are based onuniversalizability, in which case we should treat future generationsas we would ourselves, so that the pure rate of pure timepreference should be zero. But with zero time preference and along horizon, the savings rates become inordinately high, possiblyapproaching one as the horizon goes to infinity (Koopmans 1960).A reconciliation must be based on the notion that individuals arenot morally required to subscribe fully to morality at any cost tothemselves. There are both empirical evidence and theoreticalarguments that individuals recognize moral arguments for the farfuture but treat themselves and the near future better (Cropper,Aydede, and Portney 1994; Chichilnisky 1996). This approachleads to a non-cooperative game, in which each generation issomewhat selfish (compared with perfect morality) and recognizesthat future generations will be similarly selfish. I thus come back

Energy and environmental policy modeling

Abstract: 1. Introduction and Overview. 2. Technological Advances in Recovery Methods and Efficient Allocation of a Non-Renewable Resource. 3. A Concurrent Auction Model for Transmission Congestion Contracts. 4. Spot Markets in Electric Power Network: Theory. 5. The Berlin Mandate: The Design of Cost-Effective Mitigation Strategies. 6. Some Implications of Improved CO2 Emissions Control Technology in the Context of Global Climate Change. 7. Determining an Optimal Afforestation Policy: A Cost-Benefit Analysis. 8. Economic Incentives, Intergenerational Altruism and Sustainability. 9. Sequential Joint Maximization. 10. A Brief History of the International Energy Workshop.