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| Author: | Henderson, N. Bateman, I. |
| Title: | Empirical and public choice evidence for hyperbolic social discount rates and the implications for intergenerational discounting |
| Journal: | Environmental and Resource Economics
1995 : JUN, VOL. 5:4, p. 413-423 |
| Index terms: | ECONOMICS PUBLIC CHOICE ENVIRONMENT |
| Language: | eng |
| Abstract: | The derivation of the correct discount rate for intergenerational projects in Cost Benefit Analysis is particularly contentious. Public choice has resulted in lower discretionary exponential discount rates for many intergenerational projects in Britain and the USA. This is shown to be strong indirect evidence that the true social discount rate may be a hyperbolic (rather than an exponential) function. |
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