論文

査読有り
2014年10月

Natural capital investment under knightian uncertainty

Environment and Development Economics
  • Takao Asano
  • ,
  • Akihisa Shibata

19
5
開始ページ
529
終了ページ
547
記述言語
英語
掲載種別
研究論文(学術雑誌)
DOI
10.1017/S1355770X13000661
出版者・発行元
CAMBRIDGE UNIV PRESS

In this paper, we develop a simple two-period model of natural capital investment under Knightian uncertainty and analyze the effects of changes in the degree of ambiguity on the optimal natural capital investment. We find that the degree of Knightian uncertainty affects a government's natural capital investment. Moreover, we find that the direction of the effect of the Knightian uncertainty depends on the nature of uncertainty, that is, on whether the uncertainty is about the future level of natural capital or about the return from saving.

リンク情報
DOI
https://doi.org/10.1017/S1355770X13000661
Web of Science
https://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcAuth=JSTA_CEL&SrcApp=J_Gate_JST&DestLinkType=FullRecord&KeyUT=WOS:000342223400001&DestApp=WOS_CPL
URL
https://www.cambridge.org/core/journals/environment-and-development-economics/article/natural-capital-investment-under-knightian-uncertainty/26D70CCEA0F7D92C7236B7E75A22633A
ID情報
  • DOI : 10.1017/S1355770X13000661
  • ISSN : 1355-770X
  • eISSN : 1469-4395
  • Web of Science ID : WOS:000342223400001

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