Discounting and Intergenerational Equity [NOOK Book]

Overview

The effects of decisions made today about many environmental policies - including climate change and nuclear waste - will be felt across hundreds, if not thousands, of years. In the case of issues with such long-term ramifications, analysts often employ discount rates to compare present and future costs and benefits. In this book, Paul Portney and John Weyant have assembled some of the world's foremost economists to reconsider the purpose, ethical implications, and application of discounting in light of recent ...
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Discounting and Intergenerational Equity

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Overview

The effects of decisions made today about many environmental policies - including climate change and nuclear waste - will be felt across hundreds, if not thousands, of years. In the case of issues with such long-term ramifications, analysts often employ discount rates to compare present and future costs and benefits. In this book, Paul Portney and John Weyant have assembled some of the world's foremost economists to reconsider the purpose, ethical implications, and application of discounting in light of recent research and current policy concerns.
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Editorial Reviews

Booknews
Twenty mainstream economists tackle the deep and difficult problem of how to compare and evaluate environmental policies, including climate change and nuclear waste, whose effects can be expected to stretch out over centuries or more and many generations. They particularly look at the danger of employing the discount rates that are reflexively used in the field to summarize and evaluate cost and benefits over time. They assume some knowledge of economics. Annotation c. Book News, Inc., Portland, OR booknews.com
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Product Details

  • ISBN-13: 9781135892012
  • Publisher: Taylor & Francis
  • Publication date: 10/18/2013
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 200
  • File size: 3 MB

Meet the Author

Paul R. Portney is president and a senior fellow of Resources for the Future.

John P. Weyant is director of the Energy Modeling Forum at Stanford University.

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Table of Contents

Foreword
1 Introduction 1
2 Discounting, Morality, and Gaming 13
3 "Just Keep Discounting, But ..." 23
4 Reconciling Philosophy and Economics in Long-Term Discounting: Comments on Arrow and Weitzman 31
5 On the Uses of Benefit-Cost Reasoning in Choosing Policy toward Global Climate Change 37
6 A Market-Based Discount Rate: Comments on Bradford 45
7 Intergenerational Equity, Social Discount Rates, and Global Warming 51
8 Substitution and Social Discount Rates: Comments on Dasgupta, Maler, and Barrett 79
9 Mock Referenda for Intergenerational Decisionmaking 87
10 Intergenerational Discounting 99
11 Intergenerational Ethics, Efficiency, and Commitment: Comments on Schelling and Kopp and Portney 103
12 Equity, Efficiency, and Discounting 111
13 Discounting for the Very Long Term 131
14 Models and Discount Rates: Comments on Manne and Cline 141
15 Discounting and Public Policies That Affect the Distant Future 145
16 The Implications of Hyperbolic Discounting for Project Evaluation 163
17 Analysis for Intergenerational Decisionmaking 173
Index 181
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