caa a22 4500 445854782 CHVBK 20180627064141.0 cr unu---uuuuu 170323e20110601xx s 000 0 eng 10.1007/s10640-010-9431-0 doi (NATIONALLICENCE)springer-10.1007/s10640-010-9431-0 Distorted Time Preferences and Time-to-Build in the Transition to a Low-Carbon Energy Industry [Elektronische Daten] [Christoph Heinzel, Ralph Winkler] We study the welfare-theoretic consequences of diverging social and private time-preference rates and time-to-build for the transition to a low-carbon energy industry. We show that time-to-build, a prevalent characteristic of capital accumulation in the energy sector, amplifies the distortion induced by the split discount rates. Thus, these two characteristics create in a mutually reinforcing way less favorable circumstances for the introduction of new clean energy technologies as compared to the social optimum, even if welfare losses from emissions are internalized. We discuss resulting policy implications with particular emphasis on the energy sector. Springer Science+Business Media B.V., 2010 Discounting nationallicence Distorted time preferences nationallicence Energy industry nationallicence Environmental and technology policy nationallicence Technological transition nationallicence Time-to-build nationallicence Heinzel Christoph Toulouse School of Economics (LERNA), 21 Allée de Brienne, 31000, Toulouse, France aut Winkler Ralph Department of Economics and Oeschger Centre for Climate Change Research, University of Bern, Schanzeneckstrasse 1, 3001, Bern, Switzerland aut Environmental and Resource Economics Springer Netherlands 49/2(2011-06-01), 217-241 0924-6460 49:2<217 2011 49 10640 https://doi.org/10.1007/s10640-010-9431-0 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10640-010-9431-0 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Heinzel Christoph Toulouse School of Economics (LERNA), 21 Allée de Brienne, 31000, Toulouse, France aut NATIONALLICENCE 700 1- Winkler Ralph Department of Economics and Oeschger Centre for Climate Change Research, University of Bern, Schanzeneckstrasse 1, 3001, Bern, Switzerland aut NATIONALLICENCE 773 0- Environmental and Resource Economics Springer Netherlands 49/2(2011-06-01), 217-241 0924-6460 49:2<217 2011 49 10640 Metadata rights reserved Springer special CC-BY-NC licence nationallicence SWISSBIB 445854782 BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer