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La Tasa de Descuento en Proyectos de Largo Plazo

Author

Listed:
  • Gonzalo Edwards

    () (Instituto de Economía. Pontificia Universidad Católica de Chile.)

Abstract

This paper estimates the rate of discount to be used in Chile when evaluating long run projects with environmental consequences. The methodology is known as Gamma Discounting and was presented first by Martin Weitzman in the American Economic Review in March 2001.

Suggested Citation

  • Gonzalo Edwards, 2002. "La Tasa de Descuento en Proyectos de Largo Plazo," Documentos de Trabajo 231, Instituto de Economia. Pontificia Universidad Católica de Chile..
  • Handle: RePEc:ioe:doctra:231
    as

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    File URL: http://www.economia.uc.cl/docs/dt_231.pdf
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    References listed on IDEAS

    as
    1. Cropper, Maureen & Laibson, David, 1998. "The implications of hyperbolic discounting for project evaluation," Policy Research Working Paper Series 1943, The World Bank.
    2. Gonzalo Edwards, 2003. "The effect of a constant or a declining discount rate on optimal investment timing," Applied Economics Letters, Taylor & Francis Journals, vol. 10(10), pages 657-659.
    3. Martin L. Weitzman, 2001. "Gamma Discounting," American Economic Review, American Economic Association, vol. 91(1), pages 260-271, March.
    4. Newell, Richard G. & Pizer, William A., 2003. "Discounting the distant future: how much do uncertain rates increase valuations?," Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 52-71, July.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Sandra Milena Silva Arroyave & Francisco Correa Restrepo, 2010. "Valoración Económica del Suelo y Gestión Ambiental: Aplicación en Empresas Floricultoras Colombianas," REVISTA FACULTAD DE CIENCIAS ECONÓMICAS, UNIVERSIDAD MILITAR NUEVA GRANADA, June.

    More about this item

    Keywords

    Social discount rate; project evaluation;

    JEL classification:

    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate

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