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- W2032103636 abstract "ABSTRACT The correct concept for measuring economic welfare in an economy is the so-called “green net national product” (GNNP) which, in addition to the depreciation of manmade capital, is also adjusted for the consumption of natural resources and environmental damages. The Hamiltonian representation of the net national product (NNP) has been used to take into account the use of exhaustible and renewable resources and the degradation of environmental assets by pollution accumulation in the ambient environment, in defining the GNNP. In this paper the GNNP is defined when uncertainty is introduced at the level of the pollution accumulation. The framework of investment theory under uncertainty is used to analyze how uncertainty in the accumulation of the pollutant in the ambient environment can affect decisions about the timing of environmental policy introduction, and consequently, how the timing choices affect the value of the GNNP." @default.
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- W2032103636 date "1997-12-01" @default.
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- W2032103636 title "Green Accounting under Pollution Uncertainty" @default.
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- W2032103636 doi "https://doi.org/10.1080/10293574.1997.10510522" @default.
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