Abstract In this study, we investigate the relationship between consumption and subjective well-being (SWB). There is clear evidence in literature that income–SWB depends on SWB measure, but reasons are not fully yet; however, main reason may be related to because most income used for that. This study first examine directly whether consumption–SWB differs affective, cognitive, eudaimonic measures. We adopt following four indices: life satisfaction, Cantril ladder, affect balance, eudaimonia....

It is increasingly common to judge the sustainable development of nations by non-declining social well-being. Determinants well-being have been measured and used for sustainability analysis. In particular, inclusive wealth per capita, which comprises produced, human, natural capital, was reported in Inclusive Wealth Report 2012 2014. Here, we report updates third edition report, covers 140 countries from 1990 capita terms, only 60% out show past quarter century. Most countries, both...

We propose that national governments could issue bonds whose interest payments are linked to green net product (gNNP) or, almost equivalently, inclusive wealth. The main intention of this new financial instrument is entice investors and the government invest in human natural capital for which corresponding assets currently do not exist. As concept wealth expands include capital, so should side balance sheet nations. While argument gross (GNP)–linked focuses on trimming public debt toward...

The impact of conservation efforts targeted at preserving ecosystem services largely depend on the welfare implications associated with spatial variations in provision services. While there is ample empirical evidence discounting or decay valuation services, are still few underpinnings based economic theory. We establish a theory that closely follows concept time pertaining to climate change, and show discount rates consumption, service, willingness pay (WTP) numeraires. consider role key...

Attaching weights to the list of capital assets is crucial in inclusive wealth accounting and sustainability assessments. These weights, or shadow prices, can be constructed theory by looking prospectively at future social profits that question expected yield. In practice, however, both backward- forward-looking prices are used. This study confirms these two approaches theoretically equivalent under strong assumptions reviews how why taken. The then applied renewable energy (REC), which has...

If the subjective well-being (SWB) of a population has reached saturation in terms consumption, it becomes difficult to increase SWB through consumption. Previous studies have shown existence such some developed countries. However, little is known about applications for developing countries due lack data. Thus, this study investigates whether difference relationship between consumption and exists urban rural areas Vietnam. We apply generalized additive models that allow non-linear functional...

Abstract. Most recent cost-benefit Integrated Assessment Models have used only one reference scenario and focused on reducing mainly CO2 emissions. This goal may not adequately account for the uncertainties arising from diverse socioeconomic developments potential mitigating effects of emissions individual greenhouse gases, aerosols, pollutants. We developed an Model framework by combining a module with reduced-complexity climate module. represented Shared Socioeconomic Pathways (SSP)...

In our daily lives, some people tend to use the same material goods more extensively than other people. It would appear that like this consume fewer inputs, things being equal. Our research question is whether they are also happier in terms of life satisfaction. To study this, we first hypothesized due endowment effect, prosocial or pro-environmental motivations, income and substitution effects. We show effects positive for who products longer. Using a reduced form model incorporates these...

It is now established that the consumption discount rate determined by growth of multiplied elasticity marginal utility, but distributive concerns are rarely reflected in literature. Assuming a social welfare function with inequality aversion, we consider can be decomposed into effect and intragenerational distribution effect. The framework then extended to include population change environment as an amenity utility constant substitution. Numerical examples illustrate distributional effects...

Abstract This study measures various indicators for sustainability in this century four scenarios of SRES (Special Report on Emissions Scenarios) published by the Intergovernmental Panel Climate Change (IPCC) to provide a comparable assessment scenarios. We assessed using model Ramsey-type mainframe with cost models fuel and non-fuel mineral resources, biomass foods, an environmental externality. The existing studies have not these sustainability, but only climate change its policy under CO2...

Abstract To consider the implications of disaggregated consumption and discounting in context climate change, we study a world composed rich poor; standard setting literature cost–benefit analysis with distributional considerations. We derive several discount rates for different numéraires, which allow us to discuss intergenerational intragenerational equity common terms. In example CES‐CRRA utility, also show that may vary owing factors. One important parameter, inequality aversion, can be...

Abstract In wealth accounting and sustainability assessments, we characterize the non-declining criterion under dynamic average utilitarianism (DAU) as defined by Dasgupta (2001). Under DAU, objective function consists of total intergenerational well-being divided present discounted sum population from to future. It is shown that, in order for an economy be on a sustainable path, inclusive should grow at rate higher than difference between discount share current future population. Our...

We consider the question of how to integrate carbon emissions in comprehensive national accounts for purpose indicating whether countries’ development is sustainable. derive an expression saving which includes not only effect current global emissions, but also future expected paths nationally and rest world. illustrate use our alters empirical conclusions concerning sustainability countries, as compared World Bank estimates. Our calculations account fact that prospects developing countries...

As global environmental problems worsen, there is a concern for future generations who may face an unfairly degraded environment. In this study, we asked individuals from the current generation questions about using and bequeathing common local asset to in order identify individual characteristics that influence their intentions benefit generations. A total of 960 Japanese ranging 20 over 70 years old participated online survey. Explanatories include five time-perspective scales based on...

Previously, accounting for comprehensive or inclusive wealth has focused on the supply side of capital assets. However, human well-being created by assets inherently depends demand as well. In particular, if is not utilized at its full capacity, then realized actual may be less affected available than effective capital. principle, this notion embodied in a shadow price, which defined marginal contribution to social well-being. The price becomes higher underlying resource allocation mechanism...