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Endogenous future preferences and conservation
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DOI：10.1023/A:1008361604063.png)
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摘要
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A dynamic optimization model is developed in which uncertainty about future preferences is endogenous, namely depending on the state of the environment at the time the change in preferences occurs. Endogeneizing preferences not only provides economic intuition to previous results but also implies that optimal policies are less conservative.
Keyword:
endogenous future preferences
stock of the environmental asset
uncertainty
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