Environmental bonds and environmental research in innovative activities

Charles Perrings

Research output: Contribution to journalArticlepeer-review

52 Scopus citations

Abstract

This paper considers the incentive to uncover potential future social costs of activities having no historical precedents. Since ex ante markets in the future external effects of historically unique activities are non-existent, the private incentives to uncover the possibility of "Thalidomide-type" results in such activities is weak. The paper discusses the value of sequentially determined environmental bonds as mechanisms for the generation of research funds in these cases, and derives measures for the calculation of such bonds.

Original languageEnglish (US)
Pages (from-to)95-110
Number of pages16
JournalEcological Economics
Volume1
Issue number1
DOIs
StatePublished - Feb 1989
Externally publishedYes

ASJC Scopus subject areas

  • Environmental Science(all)
  • Economics and Econometrics

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