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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.

Suggested Citation

  • Nijkamp, Peter & Rouwendal, Jan, 1988. "Intergenerational Discount Rates in Long-term Plan Evaluation," Public Finance = Finances publiques, , vol. 43(2), pages 195-211.
    • Handle: RePEc:pfi:pubfin:v:43:y:1988:i:2:p:195-211
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    Cited by:

    1. Nijkamp, P. & Laschuit, P. & Soeteman, F., 1991. "Sustainable development in a regional system," Serie Research Memoranda 0093, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    2. Sumaila, Ussif R. & Walters, Carl, 2005. "Intergenerational discounting: a new intuitive approach," Ecological Economics, Elsevier, vol. 52(2), pages 135-142, January.
    3. Joan Pasqual & Emilio Padilla, 2006. "Environmental Management Problems, Future Generations And Social Decisions," The IUP Journal of Public Finance, IUP Publications, vol. 0(3), pages 15-59, August.
    4. 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.
    5. Padilla, Emilio, 2002. "Intergenerational equity and sustainability," Ecological Economics, Elsevier, vol. 41(1), pages 69-83, April.
    6. Pasqual, Joan & Souto, Guadalupe, 2003. "Sustainability in natural resource management," Ecological Economics, Elsevier, vol. 46(1), pages 47-59, August.
    7. Nijkamp, P., 1989. "Long-term tradeoffs for sustainability policies in the area of environmental toxicology : an economic analysis of a nimby syndrome," Serie Research Memoranda 0049, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.

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