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Ramsey Discounting of Ecosystem Services

机译:拉姆西生态系统服务折扣

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摘要

Most ecosystem services, which are essential for human well-being, are globally declining, while the production of consumption goods, measured by GDP, is still growing. To adequately account for this opposite development in public cost-benefit analyses, it has been proposed-based on a two-goods extension of the Ramsey growth model-to apply good-specific discount rates for manufactured consumption goods and for ecosystem services. Using empirical data for ten ecosystem services across five countries and the world at large, we estimated the difference between the discount rates for ecosystem services and for manufactured consumption goods. In a conservative estimate, we found that ecosystem services in all countries should be discounted at rates that are significantly lower than the ones for manufactured consumption goods. On global average, ecosystem services should be discounted at a rate that is 0.9 0.3 %-points lower than the one for manufactured consumption goods. The difference is larger in less developed countries and smaller in more developed countries. This result supports and substantiates the suggestion that public cost-benefit-analyses should use country-specific dual discount rates-one for manufactured consumption goods and one for ecosystem services.
机译:对人类福祉至关重要的大多数生态系统服务在全球范围内正在下降,而以国内生产总值衡量的消费品生产仍在增长。为了在公共成本收益分析中充分说明这种相反的发展,已经提出了基于Ramsey增长模型的两种商品扩展的建议,以对制造的消费品和生态系统服务应用特定于商品的折扣率。我们使用来自五个国家乃至全世界的十种生态系统服务的经验数据,估算了生态系统服务和制成品的折扣率之间的差异。在保守的估计中,我们发现所有国家的生态系统服务的折价应大大低于制成品的价格。在全球平均水平上,生态系统服务的折现率应比制成品的消费价格低0.9 0.3个百分点。欠发达国家的差异较大,而较发达国家的差异较小。这一结果支持并证实了以下建议:公共成本收益分析应使用针对特定国家的双重折扣率,一个用于制成品消费,另一个用于生态系统服务。

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