Distorted Time Preferences and Structural Change in the Energy Industry: A Theoretical and Applied Environmental-Economic Analysis by Christoph HeinzelDistorted Time Preferences and Structural Change in the Energy Industry: A Theoretical and Applied Environmental-Economic Analysis by Christoph Heinzel

Distorted Time Preferences and Structural Change in the Energy Industry: A Theoretical and Applied…

byChristoph Heinzel

Paperback | October 28, 2010

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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.
Title:Distorted Time Preferences and Structural Change in the Energy Industry: A Theoretical and Applied…Format:PaperbackDimensions:182 pagesPublished:October 28, 2010Publisher:Physica-Verlag HDLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:3790825840

ISBN - 13:9783790825848

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Table of Contents

Introduction.- Theoretical Analysis: Foundations of the Theoretical Analysis.- A Theoretical Model of Structural Change in the Energy Industrie.- Summary of Results, Discussion of Assumptions, and Policy Implications.- Applied Analysis: Foundations of the Applied Analysis.- Technology Choice Under Environmental and Technology Policies.- Optimal Moments of Transition Under Environmental and Technology Policies.- Conclusions.