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Discount rate and international environmental agreement in climate change

Research Project

Project/Area Number 18H00833
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Review Section Basic Section 07010:Economic theory-related
Research InstitutionWaseda University

Principal Investigator

Akao Ken-Ichi  早稲田大学, 社会科学総合学術院, 教授 (30211692)

Co-Investigator(Kenkyū-buntansha) 上東 貴志  神戸大学, 計算社会科学研究センター, 教授 (30324908)
西村 和雄  神戸大学, 計算社会科学研究センター, 特命教授 (60145654)
石井 仁司  津田塾大学, 数学・計算機科学研究所, 研究員 (70102887)
Project Period (FY) 2018-04-01 – 2021-03-31
Project Status Completed (Fiscal Year 2021)
Budget Amount *help
¥6,240,000 (Direct Cost: ¥4,800,000、Indirect Cost: ¥1,440,000)
Fiscal Year 2020: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2019: ¥2,080,000 (Direct Cost: ¥1,600,000、Indirect Cost: ¥480,000)
Fiscal Year 2018: ¥2,340,000 (Direct Cost: ¥1,800,000、Indirect Cost: ¥540,000)
Keywords地球温暖化問題 / 国際環境協定 / 政策担当者 / 手続的正義 / 社会的割引率 / 微分ゲーム / 利得優越均衡 / 手続的世代間衡平経路 / 割引率 / 割引き率 / Payoff dominant NE
Outline of Final Research Achievements

The choice of discount rate critically affects the climate change policy because the emissions of greenhouse gases influence the global climate system over thousands of years and a slight difference in discount rates makes a huge difference in the present values of the benefits and costs in the far future. We propose a social discount rate that is intergenerationally justifiable from procedural fairness. We investigate the properties of the discount rate with some parametric models.

Another crucial challenge against climate change in social sciences is understanding the efforts for international coordination and how to realize the desired outcome. This study formulates the international environmental negotiation as an asymmetric noncooperative differential game. We investigated the properties of the Markov perfect Nash equilibrium, including the stability of the steady states and the relation with discount rates, among others. We also addressed the existence of a solution.

Academic Significance and Societal Importance of the Research Achievements

地球温暖化問題は世代間衡平である。世代間衡平を満たし道徳的に望ましいゼロ割引率は、実際にそれに従うことが難しいという問題があり、一方、実証的に得られる正割引率は道徳的に正当化できないという問題がある。1世紀にわたっていまも続くゼロか正かをめぐる割引率の論争に対して、本研究は、手続き的正義の観点から答えを与え、特に正の割引率(割引功利主義)を正当化することで、社会を手続き的に衡平な社会に導くための政策への示唆を与えた。また、社会的にも学術的にも重要な国際環境協定の評価と可能性に関して、それを非対称微分ゲームとして、世代内、世代間衡平(割引率)に関連付けて分析した。

Report

(4 results)
  • 2021 Final Research Report ( PDF )
  • 2020 Annual Research Report
  • 2019 Annual Research Report
  • 2018 Annual Research Report
  • Research Products

    (19 results)

All 2022 2021 2019 2018 Other

All Journal Article (3 results) (of which Open Access: 3 results) Presentation (11 results) (of which Int'l Joint Research: 11 results) Remarks (5 results)

  • [Journal Article] Existence of an optimal path in a continuous time nonconcave Ramsey model2019

    • Author(s)
      Ken-Ichi Akao, Hitoshi Ishii, Takashi Kamihigashi, & Kazuo Nishimura
    • Journal Title

      RIEEM Discussion Paper Series

      Volume: 1905 Pages: 1-26

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] Critical capital stock in a continuous time growth model with a convex-concave production function2019

    • Author(s)
      Ken-Ichi Akao, Takashi Kamihigashi, & Kazuo Nishimura
    • Journal Title

      RIEEM Discussion Paper Series

      Volume: 1906 Pages: 1-41

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Journal Article] Optimal steady state of an economic dynamic model with a nonconcave production function2019

    • Author(s)
      Ken-Ichi Akao, Takashi Kamihigashi, & Kazuo Nishimura
    • Journal Title

      RIEEM Discussion Paper Series

      Volume: 1907 Pages: 1-13

    • Related Report
      2019 Annual Research Report
    • Open Access
  • [Presentation] Procedural Justice in Intergeneration and Discounting2022

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      Association of Public Economic Theory
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Payoff dominant equilibrium in a differential game for pollution control2021

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      Society for the Advancement of Economic Theory
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] International Environmental Agreement as an Equilibrium Choice in a Differential Game2021

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      Econometric Society (Asian Meeting)
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Discounting and Intergenerational Equity as a Bargaining Solution2019

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      East Asian Association of Environmental and Resource Economics 2019
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] International Environmental Agreement as an Equilibrium Choice in a Differential Game2019

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      Association for Public Economic Theory 2019
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Existence of an optimal path in a continuous time nonconcave Ramsey model2019

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      Society for the Advancement of Economic Theory 2019
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Existence of an optimal path in a continuous time nonconcave Ramsey model2019

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      SAET 2019: Society for the Adcancement of Economic Theory
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] International Environmental Agreements as an Equilibrium Choice in a Differential Game2019

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      PET 2019: Association of Public Economic Theory
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Discounting and Intergenerational Equity as a Bargaining Solution2019

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      8th Congress of EAAERE: East Asian Association of Environmental and Resource Economics
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] International Environmental Agreements as an Equilibrium Choice in a Differential Game2018

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      WCERE 2018 - 6th World Congress of Environmental and Resource Economists
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Critical capital stock in a continuous time growth model with convex-concave production function2018

    • Author(s)
      Ken-Ichi Akao
    • Organizer
      PET 2018: Association of Public Economic Theory
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Remarks] Ken-Ichi Akao (Homepage)

    • URL

      http://www.f.waseda.jp/akao/KA/Kenichi_Akao.htm

    • Related Report
      2018 Annual Research Report
  • [Remarks] 早稲田大学研究者データベース

    • URL

      https://researchers.waseda.jp/profile/ja.7e8d1fb11c6dd273a61d631028462b56.html

    • Related Report
      2018 Annual Research Report
  • [Remarks] Research Gate

    • URL

      https://www.researchgate.net/profile/K_Akao

    • Related Report
      2018 Annual Research Report
  • [Remarks] Google Scholar

    • URL

      https://scholar.google.co.jp/citations?hl=ja&user=LLLNDcIAAAAJ&view_op=list_works&sortby=pubdate

    • Related Report
      2018 Annual Research Report
  • [Remarks] RePEc

    • URL

      https://ideas.repec.org/e/pak134.html

    • Related Report
      2018 Annual Research Report

URL: 

Published: 2018-04-23   Modified: 2023-01-30  

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