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Economics - Environmental / Development / Agricultural Economics | Distorted Time Preferences and Structural Change in the Energy Industry - A Theoretical and Applied

Distorted Time Preferences and Structural Change in the Energy Industry

A Theoretical and Applied Environmental-Economic Analysis

Heinzel, Christoph

2009, XVI, 166 p.

A product of Physica Verlag Heidelberg
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This study contributes to the economic discounting debate by examining the welfare and policy implications of distorted time preferences for private investments. The analysis is applied to the energy industry, where it is of particular importance. In the transition to low-carbon energy generation, distorted time preferences are shown to induce a further distortion, in addition to that from the emission externality. Its extent varies directly with the time lag in capital accumulation. In order to implement the socially optimal path, environmental policy needs to be complemented by technology policy. The theoretical findings are applied to the upcoming structural change in the German electricity industry in the 2010s.

Content Level » Research

Keywords » Distorted Time Peferences - Energy Industry - Environmental Policy - Environmental and Technology Policy - Technological Change - Time-to-build - technology policy

Related subjects » Environmental / Development / Agricultural Economics - Global Change - Climate Change - Policy, Economics, Management & Transport - R&D / Technology Policy

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