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Intergenerational Discount Rates in Long-term Plan Evaluation

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  • Nijkamp, Peter
  • Rouwendal, Jan

Abstract

This paper provides a new contribution to the discussion on discount rates for social cost-benefit analysis of long-term plans, with a special emphasis on intergenerational problems. First, the use of the well-known net present value is critically discussed. Attention is focused on reinvestment possibilities; especially its shortcomings in long-run plan evaluation problems. The problem of multiple generations is then discussed. An adjusted intergenerational social discount rate is suggested, and its link with the conventional discount rate is formally be derived.

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Bibliographic Info

Article provided by in its journal Public Finance = Finances publiques.

Volume (Year): 43 (1988)
Issue (Month): 2 ()
Pages: 195-211

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Handle: RePEc:pfi:pubfin:v:43:y:1988:i:2:p:195-211

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Cited by:
  1. Pasqual, Joan & Souto, Guadalupe, 2003. "Sustainability in natural resource management," Ecological Economics, Elsevier, vol. 46(1), pages 47-59, August.
  2. Joan Pasqual & Emilio Padilla, 2005. "Environmental management problems, future generations and social decisions," Working Papers wpdea0502, Department of Applied Economics at Universitat Autonoma of Barcelona.
  3. Padilla, Emilio, 2002. "Intergenerational equity and sustainability," Ecological Economics, Elsevier, vol. 41(1), pages 69-83, April.
  4. Sumaila, Ussif R. & Walters, Carl, 2005. "Intergenerational discounting: a new intuitive approach," Ecological Economics, Elsevier, vol. 52(2), pages 135-142, January.
  5. Saez, Carmen Almansa & Requena, Javier Calatrava, 2007. "Reconciling sustainability and discounting in Cost-Benefit Analysis: A methodological proposal," Ecological Economics, Elsevier, vol. 60(4), pages 712-725, February.

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