Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen

more »

... bedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Le opinioni espresse nel presente lavoro non rappresentano necessariamente la posizione della Fondazione Eni Enrico Mattei SUMMARY This paper explores the relationship between rationality and equity in an intergenerational context of greenhouse gas emission reduction. It is shown that the least-cost trajectory to a constraint on cumulative emissions implies an upward-sloping emission reduction effort, in most cases, whether technological development is exogenous or endogenous (either investments in research, development and demonstration or learning-by-doing). The least-cost trajectory, however, also implies in most cases that generations in the further future face higher relative costs than do generations in the nearer future. Cost-effectiveness thus may well violate intergenerational equity and rationality of future decision makers. More equitable solutions would lead to a relative shift of abatement effort to the near future, although emission reduction would still be increasing over time. In all cases, technological development in the earlier decades is very important. Abstract This paper explores the relationship between rationality and equity in an intergenerational context of greenhouse gas emission reduction. It is shown that the least-cost trajectory to a constraint on cumulative emissions implies an upward-sloping emission reduction effort, in most cases, whether technological development is exogenous or endogenous (either investments in research, development and demonstration or learning-by-doing). The least-cost trajectory, however, also implies in most cases that generations in the further future face higher relative costs than do generations in the nearer future. Cost-effectiveness thus may well violate intergenerational equity and rationality of future decision makers. More equitable solutions would lead to a relative shift of abatement effort to the near future, although emission reduction would still be increasing over time. In all cases, technological development in the earlier decades is very important.