Time Discounting And Value
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Time Discounting And Value
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Author : Colin Price
language : en
Publisher: Wiley-Blackwell
Release Date : 1993-01-01
Time Discounting And Value written by Colin Price and has been published by Wiley-Blackwell this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-01-01 with Business & Economics categories.
The discount factor. Inflation - red herring or paper tiger? Internal rate of return and the functions of discounting. The general rate of return. Investibility. Discounting and the capital market. Pure time preference. Social time preference and government choice. In search of the negative exponential. Physical change over time. Variability and future value. Mortality and intergenerational discounting. Choice and flexibility. Time, taste and adaptation. Diminishing marginal utility and individual income. Diminishing marginal utility and aesthetic resources. Diminishing marginal utility and natural resource scenarios. Diminishing future utility and the basket of consuption. Life after discounting I: intertemporal weighting and resource use. Life afterdiscounting II: the investment-funds allocation role. Discounting resuscitated?
Economics And The Future
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Author : Pannell, D.J.
language : en
Publisher: Edward Elgar Publishing
Release Date : 2006-06-27
Economics And The Future written by Pannell, D.J. and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-06-27 with Business & Economics categories.
Economics and the Future tackles the discounting issue from a number of angles, ranging from relatively short-term private financial decisions, to very long-term public issues spanning generations. The authors present differing perspectives and original ideas in a style that remains accessible while addressing some of the more difficult questions about discounting in theory and practice. It reveals that the economic issues regarding time are embedded in a broader social, ethical and philosophical context.
Encyclopedia Of Child Behavior And Development
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Author : Sam Goldstein
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-11-23
Encyclopedia Of Child Behavior And Development written by Sam Goldstein and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-23 with Education categories.
This reference work breaks new ground as an electronic resource. Utterly comprehensive, it serves as a repository of knowledge in the field as well as a frequently updated conduit of new material long before it finds its way into standard textbooks.
Time Discounting And Future Generations
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Author : Erhun Kula
language : en
Publisher: Praeger
Release Date : 1997-07-30
Time Discounting And Future Generations written by Erhun Kula and has been published by Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-07-30 with Business & Economics categories.
Kula contends that conventional time-dependent theories in welfare economics are based on the unwarranted assumption that people live forever, an assumption that underpins the criteria for many decision-making activities and one that leads public sector policy makers to discriminate against future generations. It is seen in its most extreme in decision making on such long-term projects as nuclear power facilities, whose effects will be visited upon many future generations. How did this assumption gain currency and influence? Kula says, this oddity has been imposed by mathematical economists who now dominate the scene. Kula aggressively challenges these theories, which he alleges are untrue and unjust, provides an alternative method for discounting, and shows how its application can yield dramatically positive results. His book is thus a unique, important contribution to the theory and practice of decision making in public endeavors, intended not only for academics but equally for their practitioner colleagues in all parts of the world. Kula corrects the conventional theory by assuming societal models in which individuals are mortal and generations overlap. From this emerges a new discounting theory which leads to outcomes that are dramatically different from the old ones. The new criterion is called modified discounting, and can be readily applied to real-life projects. In Part I, Kula lays out his theory and constructs the new decision-making method, in which public policy makers accept the proposition that all generations ought to be treated equitably. Then, in Part II, he provides five case studies to illustrate his theory, each devoted to major public activities such as nuclear waste disposal, forestry, agriculture, and urban transport, and based on experiences in the United States, the United Kingdom, and Ireland.
Time And Decision
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Author : George Loewenstein
language : en
Publisher: Russell Sage Foundation
Release Date : 2003-02-27
Time And Decision written by George Loewenstein and has been published by Russell Sage Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-02-27 with Psychology categories.
How do people decide whether to sacrifice now for a future reward or to enjoy themselves in the present? Do the future gains of putting money in a pension fund outweigh going to Hawaii for New Year's Eve? Why does a person's self-discipline one day often give way to impulsive behavior the next? Time and Decision takes up these questions with a comprehensive collection of new research on intertemporal choice, examining how people face the problem of deciding over time. Economists approach intertemporal choice by means of a model in which people discount the value of future events at a constant rate. A vacation two years from now is worth less to most people than a vacation next week. Psychologists, on the other hand, have focused on the cognitive and emotional underpinnings of intertemporal choice. Time and Decision draws from both disciplinary approaches to provide a comprehensive picture of the various layers of choice involved. Shane Frederick, George Loewenstein, and Ted O'Donoghue introduce the volume with an overview of the research on time discounting and focus on how people actually discount the future compared to the standard economic model. Alex Kacelnik discusses the crucial role that the ability to delay gratification must have played in evolution. Walter Mischel and colleagues review classic research showing that four year olds who are able to delay gratification subsequently grow up to perform better in college than their counterparts who chose instant gratification. The book also delves into the neurobiology of patience, examining the brain structures involved in the ability to withstand an impulse. Turning to the issue of self-control, Klaus Wertenbroch examines the relationship between consumption and available resources, showing, for example, how a high credit limit can lead people to overspend. Ted O'Donoghue and Matthew Rabin show how people's awareness of their self-control problems affects their decision-making. The final section of the book examines intertemporal choice with regard to health, drug addiction, dieting, marketing, savings, and public policy. All of us make important decisions every day-many of which profoundly affect the quality of our lives. Time and Decision provides a fascinating look at the complex factors involved in how and why we make our choices, so many of them short-sighted, and helps us understand more precisely this crucial human frailty.
The Social Discount Rate
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Author : Humberto Lopez
language : en
Publisher: World Bank Publications
Release Date : 2008
The Social Discount Rate written by Humberto Lopez and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Achieving Shared Growth categories.
Abstract: The social discount rate measures the rate at which a society would be willing to trade present for future consumption. As such it is one of the most critical inputs needed for cost-benefit analysis. This paper presents estimates of the social discount rates for nine Latin American countries. It is argued that if the recent track record in terms of growth in the region is indicative of future performance, estimates of the social discount rate would be in the 3-4 percent range. However, to the extent that the region improves on its past performance, the social discount rate to be used in the evaluation of projects would increase to the 5-7 percent range. The paper also argues that if the social planner gives a similar chance to the low and high growth scenario, the discount rate should be dependent on the horizon of the project, declining from 4.4 percent for a 25-year horizon to less than 4 percent for a 100-year horizon.
Pricing The Planet S Future
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Author : Christian Gollier
language : en
Publisher: Princeton University Press
Release Date : 2013
Pricing The Planet S Future written by Christian Gollier and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Today, the judge, the citizen, the politician, and the entrepreneur are concerned with the sustainability of our development.
Valuing Climate Damages
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Author : National Academies of Sciences, Engineering, and Medicine
language : en
Publisher: National Academies Press
Release Date : 2017-06-23
Valuing Climate Damages written by National Academies of Sciences, Engineering, and Medicine and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-23 with Science categories.
The social cost of carbon (SC-CO2) is an economic metric intended to provide a comprehensive estimate of the net damages - that is, the monetized value of the net impacts, both negative and positive - from the global climate change that results from a small (1-metric ton) increase in carbon-dioxide (CO2) emissions. Under Executive Orders regarding regulatory impact analysis and as required by a court ruling, the U.S. government has since 2008 used estimates of the SC-CO2 in federal rulemakings to value the costs and benefits associated with changes in CO2 emissions. In 2010, the Interagency Working Group on the Social Cost of Greenhouse Gases (IWG) developed a methodology for estimating the SC-CO2 across a range of assumptions about future socioeconomic and physical earth systems. Valuing Climate Changes examines potential approaches, along with their relative merits and challenges, for a comprehensive update to the current methodology. This publication also recommends near- and longer-term research priorities to ensure that the SC- CO2 estimates reflect the best available science.
Consumer Perception Of Product Risks And Benefits
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Author : Gerard Emilien
language : en
Publisher: Springer
Release Date : 2017-03-14
Consumer Perception Of Product Risks And Benefits written by Gerard Emilien and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-14 with Business & Economics categories.
This book reflects the current thinking and research on how consumers’ perception of product risks and benefits affects their behavior. It provides the scientific, regulatory and industrial research community with a conceptual and methodological reference point for studies on consumer behavior and marketing. The contributions address various aspects of consumer psychology and behavior, risk perception and communication, marketing research strategies, as well as consumer product regulation. The book is divided into 4 parts: Product risks; Perception of product risks and benefits; Consumer behavior; Regulation and responsibility.
The Time Value Of Money
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Author : Jeffrey Pattavina
language : en
Publisher: Lulu.com
Release Date : 2018-06-15
The Time Value Of Money written by Jeffrey Pattavina and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-15 with Business & Economics categories.
The Time-Value of Money is a concise tutorial on valuing cash flows over time. It provides a clear description of how to recast the monetary value of one or more future cash flows into an equivalent present value. Converting future cash flow streams into to a present value allows future cash flows to be treated within the same time-frame and thereby provides the means necessary to evaluate an asset fairly. The book covers concepts such as weighted cost of capital, present and future value, interest rates, mortgages, annuities, growth models, discounting, internal rate of return and net present value assessments.