Individual Option Prices for Climate Change Mitigation
نویسنده
چکیده
Willingness to pay for climate change mitigation depends on people's perceptions about just how bad things will get if nothing is done. Individual subjective distributions for future climate conditions are combined with stated preference discrete choice data over alternative climate policies to estimate individual option prices (the appropriate ex ante welfare measure in the face of uncertainty) for climate change mitigation. We find significant " scope " effects in the estimated option prices—according to both expected conditions and degree of uncertainty.
منابع مشابه
PRELIMINARY DRAFT Not for citation Credibility of Information Sources and the Formation of Individuals' Option Prices for Climate Change Mitigation
Ex ante willingness to pay to prevent adverse environmental change depends on people's perceptions about just how bad the situation will become if mitigation policies are not adopted. These perceptions are influenced by an array of external information sources that might be deemed more or less credible by individuals. I describe an empirical game plan wherein people's native prior distributions...
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