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The Dilemmas of Public Vs. Private Goods Discounting for Long-Term Investment Appraisal: The Puzzle of Citizen and Consumer Approaches to Valuation

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  • Foltyn-Zarychta Monika

    (University of Economics in Katowice, College of Finance, Department of Investment, 1 Maja 50, 40-287Katowice, Poland)

Abstract

Research background: An investment appraisal applies a single discount rate across all effects. However, this may be insufficient for heterogenous environmental impacts, mixing private and public goods as well as use and non-use values, where individuals may have multiple intertemporal preferences due to their duality to act as consumer or citizen.

Suggested Citation

  • Foltyn-Zarychta Monika, 2020. "The Dilemmas of Public Vs. Private Goods Discounting for Long-Term Investment Appraisal: The Puzzle of Citizen and Consumer Approaches to Valuation," Folia Oeconomica Stetinensia, Sciendo, vol. 20(2), pages 114-133, December.
    • Handle: RePEc:vrs:foeste:v:20:y:2020:i:2:p:114-133:n:18
    DOI: 10.2478/foli-2020-0039
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    More about this item

    Keywords

    investment appraisal; valuation; discounting; citizen vs. consumer distinction;
    All these keywords.

    JEL classification:

    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate

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