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Recent advances in discounting: Implications for forest economics

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  • Hepburn, Cameron J.
  • Koundouri, Phoebe

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  • Hepburn, Cameron J. & Koundouri, Phoebe, 2007. "Recent advances in discounting: Implications for forest economics," Journal of Forest Economics, Elsevier, vol. 13(2-3), pages 169-189, August.
  • Handle: RePEc:eee:foreco:v:13:y:2007:i:2-3:p:169-189
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    References listed on IDEAS

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    1. Richard B. Howarth, 2003. "Discounting and sustainability: towards reconciliation," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 6(1), pages 87-97.
    2. Ait-Sahalia, Yacine, 1996. "Testing Continuous-Time Models of the Spot Interest Rate," Review of Financial Studies, Society for Financial Studies, vol. 9(2), pages 385-426.
    3. Kimball, Miles S, 1990. "Precautionary Saving in the Small and in the Large," Econometrica, Econometric Society, vol. 58(1), pages 53-73, January.
    4. Cropper, Maureen L & Aydede, Sema K & Portney, Paul R, 1994. "Preferences for Life Saving Programs: How the Public Discounts Time and Age," Journal of Risk and Uncertainty, Springer, vol. 8(3), pages 243-265, May.
    5. Martin L. Weitzman, 2001. "Gamma Discounting," American Economic Review, American Economic Association, vol. 91(1), pages 260-271, March.
    6. Talbot Page, 2003. "Balancing efficiency and equity in long-run decision-making," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 6(1), pages 70-86.
    7. Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
    8. Weitzman Martin L., 1994. "On the Environmental Discount Rate," Journal of Environmental Economics and Management, Elsevier, vol. 26(2), pages 200-209, March.
    9. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
    10. Gollier, Christian, 2002. "Discounting an uncertain future," Journal of Public Economics, Elsevier, vol. 85(2), pages 149-166, August.
    11. Harris, Christopher & Laibson, David, 2001. "Dynamic Choices of Hyperbolic Consumers," Econometrica, Econometric Society, vol. 69(4), pages 935-957, July.
    12. Weitzman, Martin L., 1998. "Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 201-208, November.
    13. Ekaterini Panopoulou & Ben Groom & Phoebe Koundouri & Theologos Pantelidis, 2004. "An Econometric Approach To Estimating Long-Run Discount Rates," Royal Economic Society Annual Conference 2004 70, Royal Economic Society.
    14. Graciela Chichilnisky, 1996. "An axiomatic approach to sustainable development," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 13(2), pages 231-257, April.
    15. Graciela Chichilnisky, 1997. "What Is Sustainable Development?," Land Economics, University of Wisconsin Press, vol. 73(4), pages 467-491.
    16. Thaler, Richard, 1981. "Some empirical evidence on dynamic inconsistency," Economics Letters, Elsevier, vol. 8(3), pages 201-207.
    17. Gollier, Christian, 2002. "Time Horizon and the Discount Rate," Journal of Economic Theory, Elsevier, vol. 107(2), pages 463-473, December.
    18. Arrow, Kenneth J & Lind, Robert C, 1970. "Uncertainty and the Evaluation of Public Investment Decisions," American Economic Review, American Economic Association, vol. 60(3), pages 364-378, June.
    19. Li, Chuan-Zhong & Lofgren, Karl-Gustaf, 2000. "Renewable Resources and Economic Sustainability: A Dynamic Analysis with Heterogeneous Time Preferences," Journal of Environmental Economics and Management, Elsevier, vol. 40(3), pages 236-250, November.
    20. Read, Daniel, 2001. "Is Time-Discounting Hyperbolic or Subadditive?," Journal of Risk and Uncertainty, Springer, vol. 23(1), pages 5-32, July.
    21. Christian Gollier & Richard Zeckhauser, 2005. "Aggregation of Heterogeneous Time Preferences," Journal of Political Economy, University of Chicago Press, vol. 113(4), pages 878-896, August.
    22. Talbot Page, 1997. "On the Problem of Achieving Efficiency and Equity, Intergenerationally," Land Economics, University of Wisconsin Press, vol. 73(4), pages 580-596.
    23. Dreze, Jean & Stern, Nicholas, 1990. "Policy reform, shadow prices, and market prices," Journal of Public Economics, Elsevier, vol. 42(1), pages 1-45, June.
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    Citations

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    Cited by:

    1. Marshall, Liz & Kelly, Alexia, 2010. "The Time Value of Carbon and Carbon Storage: Clarifying the terms and the policy implications of the debate," MPRA Paper 27326, University Library of Munich, Germany.
    2. Watson, Charlene & Mourato, Susana & Milner-Gulland, E. J., 2013. "Uncertain emission reductions from forest conservation: REDD in the Bale mountains, Ethiopia," LSE Research Online Documents on Economics 54192, London School of Economics and Political Science, LSE Library.
    3. Stefan Dercon, 2014. "Climate change, green growth, and aid allocation to poor countries," Oxford Review of Economic Policy, Oxford University Press, vol. 30(3), pages 531-549.
    4. Colin, Price, 2011. "Optimal rotation with declining discount rate," Journal of Forest Economics, Elsevier, vol. 17(3), pages 307-318, August.
    5. António C. Pinheiro & Nuno Almeida Ribeiro & Peter Surový & Alfredo Gonçalves, 2008. "Economic implications of different cork oak forest management systems," Economics Working Papers 04_2008, University of Évora, Department of Economics (Portugal).
    6. Sjølie, Hanne K. & Latta, Greg S. & Solberg, Birger, 2013. "Dual discounting in climate change mitigation in the forest sector," Journal of Forest Economics, Elsevier, vol. 19(4), pages 416-431.
    7. David Walker, 2014. "The Economic Potential for Forest-Based Carbon Sequestration under Different Emissions Targets and Accounting Schemes," Working Papers 2014.02, School of Economics, La Trobe University.
    8. Hultkrantz, Lars & Mantalos, Panagiotis, 2016. "Hedging with Trees: Tail-Hedge Discounting of Long-Term Forestry Returns," Working Papers 2016:2, Örebro University, School of Business.
    9. repec:eee:forpol:v:83:y:2017:i:c:p:58-69 is not listed on IDEAS
    10. Price, Colin, 6. "Optimal Rotation under Continually – or Continuously – Declining Discount Rate," Scandinavian Forest Economics: Proceedings of the Biennial Meeting of the Scandinavian Society of Forest Economics, Scandinavian Society of Forest Economics, issue 42, April.
    11. Maria Nijnik & Guillaume Pajot, 2014. "Accounting for uncertainties and time preference in economic analysis of tackling climate change through forestry and selected policy implications for Scotland and Ukraine," Climatic Change, Springer, vol. 124(3), pages 677-690, June.
    12. AlekneviÄ ienÄ—, Vilija & StonÄ iuvienÄ—, Neringa & ZinkeviÄ ienÄ—, DanutÄ—, 2013. "Determination of the fair value of a multifunctional family farm: a case study," Studies in Agricultural Economics, Research Institute for Agricultural Economics, vol. 115(3), December.
    13. Moore Mark A. & Vining Aidan R. & Boardman Anthony E., 2013. "More appropriate discounting: the rate of social time preference and the value of the social discount rate," Journal of Benefit-Cost Analysis, De Gruyter, vol. 4(1), pages 1-16, March.
    14. Vecchiato, D. & Tempesta, T., 2013. "Valuing the benefits of an afforestation project in a peri-urban area with choice experiments," Forest Policy and Economics, Elsevier, vol. 26(C), pages 111-120.

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