Taking time for the environment: On timing and the role of delays in environmental and resource economics

Lucas Bretschger, Sjak Smulders*

*Corresponding author for this work

Research output: Contribution to journalEditorialScientific

Abstract

Ecosystem transformation and climate change evolve over long time scales. The effects of the economic decisions on the natural environment are also of a long-run character because they relate to investment decisions and capital stocks. At the same time, the economy is short-sighted and subject to different kinds of market failures. The time it takes to notice the changes and adequately address the associated problems affects the dynamics and inertia of the process. We discuss some recent contributions and new research questions that deal with time and timing in environmental and resource economics.
Original languageEnglish
Pages (from-to)731-736
JournalEnvironmental & Resource Economics
Volume70
Issue number4
DOIs
Publication statusPublished - Aug 2018

Keywords

  • Time
  • Inertia
  • Environmental policy
  • Climate change
  • Decision delay

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