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Intergenerational equity and dual discounting

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  • Almansa, Carmen
  • Martínez-Paz, José M.

Abstract

Dual discounting is a new approach under consideration for use in environmental cost–benefit analysis. This paper updates the literature on this subject and subjects it to the assessment of an international panel of experts on environmental discounting by means of a Delphi study. Subsequently, a case study provides some findings deriving from the practical application of this strategy as the choice of discounting scenario in the economic evaluation of a plant for the desalination of irrigation return water, aimed at halting the degradation of a wetland. There are theoretical and practical reasons to support the use of this discounting approach in relation to projects with intergenerational impact, where the environmental effects are considerable in relation to market effects. Although still under investigation, the dual discounting approach appears to provide an appropriate methodological platform enabling the quantification of the degree of intergenerational equity implicit in the project.

Suggested Citation

  • Almansa, Carmen & Martínez-Paz, José M., 2011. "Intergenerational equity and dual discounting," Environment and Development Economics, Cambridge University Press, vol. 16(06), pages 685-707, December.
  • Handle: RePEc:cup:endeec:v:16:y:2011:i:06:p:685-707_00
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    Cited by:

    1. Defrancesco, Edi & Gatto, Paola & Rosato, Paolo, 2014. "A ‘component-based’ approach to discounting for natural resource damage assessment," Ecological Economics, Elsevier, vol. 99(C), pages 1-9.
    2. Martin-Ortega, Julia & Perni, Angel & Jackson-Blake, Leah & Balana, Bedru B. & Mckee, Annie & Dunn, Sarah & Helliwell, Rachel & Psaltopoulos, Demetris & Skuras, Dimitris & Cooksley, Susan & Slee, Bill, 2015. "A transdisciplinary approach to the economic analysis of the European Water Framework Directive," Ecological Economics, Elsevier, vol. 116(C), pages 34-45.
    3. Marta Bottero & Valentina Ferretti & Giulio Mondini, 2013. "From the environmental debt to the environmental loan: trends and future challenges for intergenerational discounting," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 15(6), pages 1623-1644, December.

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