کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
985755 934671 2006 13 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Valuation of environmental improvements in continuous time with mortality and morbidity effects
موضوعات مرتبط
مهندسی و علوم پایه مهندسی انرژی انرژی (عمومی)
پیش نمایش صفحه اول مقاله
Valuation of environmental improvements in continuous time with mortality and morbidity effects
چکیده انگلیسی
We present a model for valuing environmental improvements in continuous time, for individuals that can be either healthy (H) or ill (I), with constant transition between the states and constant mortality rates in each state, when environmental quality affects welfare, mortality and morbidity. The values in states H and I, VSL(H) and VSL(I), are derived from two Bellman dynamic programming equations. The individual's valuation of (small) instantaneous environmental changes, and of permanent environmental changes (“environmental investments”), are shown to depend on both VSL(H) and VSL(I), for each of the states H and I. We show that VSL(I) may exceed VSL(H), and the value of environmental improvements in the ill state may exceed those in the healthy state, in particular for short-lasting illness and when the marginal value of consumption is lower in state I than in state H.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Resource and Energy Economics - Volume 28, Issue 3, August 2006, Pages 229-241
نویسندگان
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