“…First, the same value of damage over the entire period is assumed. Alternatively, the willingness to pay values for avoiding the adverse effects and hence value of damage may be time variant and likely grow over time as real consumption will grow, as assumed, for instance, in Ščasný et al [33] (following the approach described in [33] and assuming 3, 2, and 1 per cent growth in real consumption before 2015, during 2015-2030, and after 2030, respectively, we get qualitatively similar results as when no price adjustment is made. In absolute terms, cumulative value of the external costs is about 45% higher with the adjustments.…”