Responsible investment and responsible consumption
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/36270 |
Resumo: | To maximize their impact, socially responsible households can invest responsibly (SRI), consume responsibly (SRC), or do both. The key question of this paper is, which mix of SRI and SRC leads to a desired impact with the lowest loss of utility for responsible households. In a closed micro-economic model, we show that both strategies yield a symmetric impact, proportional to the responsible behavior. For the individual household, however, one strategy dominates the other depending on a condition on risk and product parameters. If responsible households can coordinate on socially responsible action, the welfare maximizing action is to completely abstain from consuming and investing in brown production if the negative externality is high. The coordination on "abstaining" becomes more likely the more households are responsible. |
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Responsible investment and responsible consumptionSocially responsible investment (SRI)Ethical investmentSustainable investmentImpact investmentGreen investmentTransitionESGSPITo maximize their impact, socially responsible households can invest responsibly (SRI), consume responsibly (SRC), or do both. The key question of this paper is, which mix of SRI and SRC leads to a desired impact with the lowest loss of utility for responsible households. In a closed micro-economic model, we show that both strategies yield a symmetric impact, proportional to the responsible behavior. For the individual household, however, one strategy dominates the other depending on a condition on risk and product parameters. If responsible households can coordinate on socially responsible action, the welfare maximizing action is to completely abstain from consuming and investing in brown production if the negative externality is high. The coordination on "abstaining" becomes more likely the more households are responsible.Veritati - Repositório Institucional da Universidade Católica PortuguesaHakenes, HendrikSchliephake, Eva2021-12-23T15:36:31Z2021-12-212021-12-21T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.14/36270eng10.2139/ssrn.3846367info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-12T17:41:46Zoai:repositorio.ucp.pt:10400.14/36270Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:29:26.995919Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Responsible investment and responsible consumption |
title |
Responsible investment and responsible consumption |
spellingShingle |
Responsible investment and responsible consumption Hakenes, Hendrik Socially responsible investment (SRI) Ethical investment Sustainable investment Impact investment Green investment Transition ESG SPI |
title_short |
Responsible investment and responsible consumption |
title_full |
Responsible investment and responsible consumption |
title_fullStr |
Responsible investment and responsible consumption |
title_full_unstemmed |
Responsible investment and responsible consumption |
title_sort |
Responsible investment and responsible consumption |
author |
Hakenes, Hendrik |
author_facet |
Hakenes, Hendrik Schliephake, Eva |
author_role |
author |
author2 |
Schliephake, Eva |
author2_role |
author |
dc.contributor.none.fl_str_mv |
Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Hakenes, Hendrik Schliephake, Eva |
dc.subject.por.fl_str_mv |
Socially responsible investment (SRI) Ethical investment Sustainable investment Impact investment Green investment Transition ESG SPI |
topic |
Socially responsible investment (SRI) Ethical investment Sustainable investment Impact investment Green investment Transition ESG SPI |
description |
To maximize their impact, socially responsible households can invest responsibly (SRI), consume responsibly (SRC), or do both. The key question of this paper is, which mix of SRI and SRC leads to a desired impact with the lowest loss of utility for responsible households. In a closed micro-economic model, we show that both strategies yield a symmetric impact, proportional to the responsible behavior. For the individual household, however, one strategy dominates the other depending on a condition on risk and product parameters. If responsible households can coordinate on socially responsible action, the welfare maximizing action is to completely abstain from consuming and investing in brown production if the negative externality is high. The coordination on "abstaining" becomes more likely the more households are responsible. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-12-23T15:36:31Z 2021-12-21 2021-12-21T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/36270 |
url |
http://hdl.handle.net/10400.14/36270 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.2139/ssrn.3846367 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799132014765408256 |