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Eléments sur l’actualisation et l’environnement

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  • Katheline SCHUBERT

    (EUREQua, Université de Paris 1)

Abstract

Le choix d'un taux d'actualisation est central dans l'évaluation de projets, d'autant plus que l'horizon sur lequel porte le projet est long. La discussion sur le taux d'actualisation approprié a ainsi connu un regain de vigueur à propos de projets à caractère environnemental, caractérisés par un très grand éloignement dans le temps des coûts et/ou des bénéfices, réduits à un niveau insignifiant par l'actualisation. Cet article est une synthèse des apports les plus récents de la littérature sur l'actualisation et l'environnement. La première approche consiste à remplacer le critère de bien-être social utilitariste escompté de l'approche usuelle par un autre critère, en se fondant sur des considérations d'équité intergénérationnelle. La deuxième se place sur un plan positif et non plus normatif, conteste l'idée d'un taux de préférence pure pour le présent constant et justifie par des considérations psychologiques sa décroissance au cours du temps. La troisième approche enfin justifie par l'incertitude sur le futur l'utilisation d'un taux d'escompte de la consommation décroissant au court du temps et faible à long terme. On met en évidence la grande difficulté qu'il existe à déterminer la « bonne » procédure concernant le choix d'un taux d'actualisation. Les arguments qui conduisent à adopter un taux d'escompte de la consommation décroissant au cours du temps sont cependant très convaincants, et l'article plaide pour cette approche. Le Royaume-Uni (dans le "Green Book" ) et la France (dans le rapport du groupe Lebègue pour le Commissariat Général au Plan) la retiennent d'ailleurs officiellement depuis peu, bien que d'importantes difficultés d'ordre pratique subsistent.

Suggested Citation

  • Katheline SCHUBERT, 2006. "Eléments sur l’actualisation et l’environnement," Discussion Papers (REL - Recherches Economiques de Louvain) 2006023, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvre:2006023
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    References listed on IDEAS

    as
    1. Gollier, Christian, 2002. "Time Horizon and the Discount Rate," Journal of Economic Theory, Elsevier, vol. 107(2), pages 463-473, December.
    2. Karen Pittel, 2002. "Sustainability and Endogenous Growth," Books, Edward Elgar Publishing, number 2776.
    3. Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
    4. 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.
    5. David Pearce & Ben Groom & Cameron Hepburn & Phoebe Koundouri, 2003. "Valuing the Future," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 4(2), pages 121-141, April.
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    More about this item

    Keywords

    Actualisation; environnement; équité intergénérationnelle; critères de bien-être social;
    All these keywords.

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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