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 language | English |
|---|---|
| Pages (from-to) | 731-736 |
| Journal | Environmental & Resource Economics |
| Volume | 70 |
| Issue number | 4 |
| DOIs | |
| Publication status | Published - Aug 2018 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth -
SDG 13 Climate Action
Keywords
- Time
- Inertia
- Environmental policy
- Climate change
- Decision delay
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