The discounting debate: Accounting for the future in the past and the present

South African Journal of Economics

Volumn 64, Issue 4, 1996, Pages 232-241

  Lumby, B ^a   Saville, Adrian D ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0030328290     PISSN: 00382280     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1813-6982.1996.tb01345.x     Document Type: Review

References (38)

1. AINSLIE, G. (1991). Derivation of 'Rational' Economic Behavior from Hyperbolic Discount Curves. American Economic Review Papers and Proceedings, Vol. 81:334-40.
2. ARROW, K.J. AND LIND, R.C. (1970). Uncertainty and the Evaluation of Public Investment Decisions. American Economic Review, Vol. 60:364-78.
3. BAUMOL, W.J. (1968). On the Social Rate of Discount. American Economic Review, Vol. 58:788-802
4. .BENTHAM, J. (1789). An Introduction to the Principles of Morals and Legislation. Reprint from The Utilitarians, 1-398. New York: Doubleday.
5. COMMON, M. (1983). The Implications of Discounting Under Varying Technological and Preference Regimes. International Journal of Environmental Studies, Vol. 21:87-105.
6. _ (1988). Environmental and Resource Economics: An Introduction. New York: Longman.
7. DIXON, J.A. and MEISTER, A.D. (1986). Time Horizons, Discounting, and Computational Aids, in Dixon, J.A. and Hufgschmidt, M.M. (eds) Economics Valuation Techniques for the Environment: A Case Study Workbook. Baltimore: Johns Hopkins University Press.
8. FELDSTEIN, M.S. (1964). The Social Time Preference Rate in Cost Benefit Analysis. Economic Journal, Vol. 74:360-79.
9. FEREJOHN, J. and PAGE, T. (1977). On the Foundations of Intertemporal Choice. American Journal of Agricultural Economics, Vol. 60:269-75.
10. GOODIN, R. (1982). Discounting Discounting. Journal of Public Policy, Vol. 2:53-72.
11. GORDON, R.L. (1967). A Reinterpretation of the Pure Theory of Exhaustion. Journal of Political Economy, Vol. 75:466-89.
12. HARROD, R. (1948). Towards a Dynamic Economy. London: St. Martin's Press
13. HOWE, C.W. (1990). The Social Discount Rate. Journal of Environmental Economics and Management, Vol. 18:S1-2.
14. HUME, D. (1739). A Treatise of Human Nature. Oxford: Oxford University Press.
15. LIND, R.C. (1990). Reassessing the Government's Discount Rate Policy in Light of New Theory and Data in a World Economy with a High Degree of Capital Mobility. Journal of Environmental Economics and Management, Vol. 18:S8-28.0..
16. LYON, R.M. (1990). Federal Discount Rate Policy, the Shadow Price of Capital, and Challenges for Reforms. Journal of Environmental Economics and Management, Vol. 18:S29-50.
17. MARGLIN, S.A. (1963). The Social Rate of Discount and the Optimal Rate of Investment. Quarterly Journal of Economics, Vol. 77:95-111.
18. MARCHAND, M. and PESTIEAU, P. (1984). Discount Rates and Shadow Prices for Public Investment. Quarterly Journal of Economics, Vol. 77:274-89.
19. MARKANDYA, A. and PEARCE, D.W. (1988). Environmental Considerations and the Choice of Discount Rates in Developing Countries. World Bank Environment Department Working Paper, No. 3.
20. PAGE, T. (1977). Equitable Use of the Resource Base. Environment and Planning, Vol. 9:15-22.
21. _ (1979). Selecting Welfare Criteria on the Basis of Intertemporal Equity. Resources for the Future Working Paper
22. _ (1988). Intergenerational Equity and the Social Rate of Discount., in Smith, V.K. (ed.) Environmental Resources and Applied Welfare Economics: Essays in Honor of John V. Krutilla.
23. PEARCE, D.W. (1983). Ethics, Irreversibility, Future Generations and the Social Rate of Discount. International Journal of Environmental Studies, Vol. 21:67-86.
24. _ (1988). Optimal Prices for Sustainable Development., in Collard, D., Pearce, D. and Ulph, D. (eds) Economics, Growth and Sustainable Environments. London: Macmillan
25. PEARCE, D.W. and TURNER, R.K. (1990). The Economics of Natural Resources and the Environment. Brighton: Wheatsheaf.
26. PERRINGS, C. (1987). Economy and Environment: A Theoretical Essay on the Interdependence of Economic and Environmental Systems Cambridge: Cambridge University Press
27. PIGOU, A.C. (1929). The Economics of Welfare, 3rd edn. London: Macmillan.
28. PRICE, C. (1993). Time Discounting and Value. Oxford: Blackwell.
29. RAMSEY, F.P. (1928). A Mathematical Theory of Saving. Economic Journal, Vol. 38:543-59.
30. RAY, A. (1984). Cost Benefit Analysis: Issues and Methodology. Baltimore: Johns Hopkins University Press
31. ROBINSON, J.C. (1990). Philosophical Origins of the Social Rate of Discount Cost-Benefit Analysis, The Milbank Quarterly, Vol. 68:245-65.
32. SAGOFF, M. (1988). The Economy of the Earth. Cambridge: Cambridge University Press.
33. SCHERAGA, J. D. (1990). Perspectives on Government Discounting Policies, Journal of Environmental Economics and Management, Vol. 18:S65-71.
34. SMITH, V.K. (1986). A Conceptual Overview of the Foundations of Benefit-Cost Analysis., in Bentkover, J.D. et al (eds)Benefits Assessment: The State of the Art. Dordrecht: Reidel.
35. SQUIRE, L. AND VAN DER TAK, H. (1975). Economic Appraisal of Projects. Baltimore: Johns Hopkins University Press).
36. STIGLITZ, J.E. (1982). The Rate of Discount for Benefit-Cost Analysis and the Theory of the Second Best. in Lind. R.C. (ed.) Discounting for Time and Risk in Energy Policy. Baltimore: Johns Hopkins University Press.
37. WEITZMAN, M.L. (1994). On the 'Environmental' Discount Rate. Journal of Environmental Economics and Management, Vol. 26:200-9.
38. ZERBE, R.O. and DIVELY, D.D. (1994). Benefit-Cost Analysis: Theory and Practice. New York: Harper Collins College Publishers.