Estimation of implicit discount rates for climate change adaptation policies.

This article used evidence from tourists' willingness to pay (WTP) for a set of climate change adaptation policies to estimate implicit discount rates under different discounting structures. A choice experiment with two different split samples framed at two different time horizons was used to analyse how WTP changes as a function of the timing of the expected benefits. Results confirm that individuals are time sensitive to different horizons and provide support for the use of a very low discount rate in the evaluation of policies having effects in the long and very long run and show that the social acceptability of climate change (CC) adaptation policies can be affected by the timing of the benefits and the use of one or another discounting model.

Do we care about sustainability? An analysis of time sensitivity of social preferences under environmental time-persistent effects.

Environmental cost-benefit analysis has traditionally assumed that the value of benefits is sensitive to their timing and that outcomes are valued higher, the sooner in time they occur following implementation of a project or policy. Though, this assumption might have important implications especially for the social desirability of interventions aiming at counteracting time-persistent environmental problems, whose impacts occur in the long- and very long-term, respectively involving the present and future generations. This study analyzes the time sensitivity of social preferences for preservation policies of adaptation to climate change stresses.

Valuing the recreational benefits of wetland adaptation to climate change: a trade-off between species' abundance and diversity.

Climate change will further exacerbate wetland deterioration, especially in the Mediterranean region. On the one side, it will accelerate the decline in the populations and species of plants and animals, this resulting in an impoverishment of biological abundance. On the other one, it will also promote biotic homogenization, resulting in a loss of species' diversity.