Last lecture

In the last lecture (26/4), Bard will talk about "the value of the future: discounting"

He will draw on Ch 3 as well as Ch 11, which you may want to review, as well as the following two articles:

Weitzman, M. (1998) Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate link: http://scholar.harvard.edu/files/weitzman/files/why_far-distant_future.pdf

Karp, L. (2005) Global warming and hyperbolic discounting, link: http://www.sciencedirect.com/science/article/pii/S0047272704000799

In addition, we will talk informally about several key concepts often used in environmental economics, which we did not have time to cover in class but which you may come across when you study the field further.