Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/333258 
Erscheinungsjahr: 
2023
Quellenangabe: 
[Journal:] Journal of Economics and Statistics [ISSN:] 2366-049X [Volume:] 243 [Issue:] 5 [Year:] 2023 [Pages:] 477-542
Verlag: 
De Gruyter Oldenbourg, Berlin
Zusammenfassung: 
The crises of both the climate and the biosphere are manifestations of the imbalance between human extractive, and polluting activities and the Earth's regenerative capacity. Planetary boundaries define limits for biophysical systems and processes that regulate the stability and life support capacity of the Earth system, and thereby also define a safe operating space for humanity on Earth. Budgets associated to planetary boundaries can be understood as global commons: common pool resources that can be utilized within finite limits. Despite the analytical interpretation of planetary boundaries as global commons, the planetary boundaries framework is missing a thorough integration into economic theory. We aim to bridge the gap between welfare economic theory and planetary boundaries as derived in the natural sciences by presenting a unified theory of cost-benefit and cost-effectiveness analysis. Our pragmatic approach aims to overcome shortcomings of the practical applications of CEA and CBA to environmental problems of a planetary scale. To do so, we develop a model framework and explore decision paradigms that give guidance to setting limits on human activities. This conceptual framework is then applied to planetary boundaries. We conclude by using the realized insights to derive a research agenda that builds on the understanding of planetary boundaries as global commons.
Schlagwörter: 
cost-benefit analysis
cost-effectiveness analysis
global commons
planetary boundaries
precautionary principle
shadow price
uncertainty
welfare economics
JEL: 
D60
D81
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
cc-by Logo
Dokumentart: 
Article

Datei(en):
Datei
Größe
2.46 MB





Publikationen in EconStor sind urheberrechtlich geschützt.