IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Un examen a la tasa de descuento

  • Zurita, Felipe

    (Instituto de Economía, Pontificia Universidad Católica de Chile)

The choice of an appropriate discount rate is of major importance in cost benefit analysis both, at the private and at the social levels. The theories that rationalize the NPV criterion also identify the appropriate rate. However, the question remains as to what should be done when the environment where the project is under appraisal does not accommodate well to the one described by the theory. This essay puts forward the idea that generally speaking, when there is no obvious rate to pick the NPV criterion lacks normative value.// La selección de una tasa de descuento apropiada es una elección importante en la evaluación de proyectos de inversión, tanto privada como social. Las teorías que racionalizan el uso del criterio del VAN también identifican la tasa apropiada. Sin embargo, queda la pregunta de qué hacer cuando esas teorías no se acercan adecuadamente al escenario en que la decisión se toma. Este ensayo defiende la idea de que, en general, si la tasa por emplear no es obvia, entonces el criterio del VAN no tiene valor normativo.

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Article provided by Fondo de Cultura Económica in its journal El Trimestre Económico.

Volume (Year): LXXII (2) (2005)
Issue (Month): 286 (abril-junio)
Pages: 257-281

as
in new window

Handle: RePEc:elt:journl:v:72:y:2005:i:286:p:257-281
Contact details of provider: Web page: http://www.fondodeculturaeconomica.com/

Order Information: Postal: Order print issues directly in our web page or with Guadalupe Galicia at Fondo de Cultura Económica, El Trimestre Económico, Carretera Picacho Ajusco 227, 6° piso,Col. Bosques del Pedregal, CP 14738, Tlalpan, Distrito Federal, México
Web: http://www.eltrimestreeconomico.com/ Email:


No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:elt:journl:v:72:y:2005:i:286:p:257-281. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rosa María González Mejía)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.