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Bequests, control rights, and cost-benefit analysis
Glazer, Amihai; Kanniainen, Vesa; Niskanen, Esko - 2001
Consider a public project which produces a consumption good and which benefits future generations. Let a conventional cost-benefit analysis find that it gives higher benefits than projects it would dis-place in the private sector. Voters may nevertheless oppose the public project: the...
Persistent link: https://www.econbiz.de/10011400766
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Discounting in an uncertain world : disentangling the debate on the Weitzman-Gollier puzzle
Buchholz, Wolfgang - 2014
Under conditions of risk it makes a difference whether the discount rate is determined as an expected present or as an expected future value. This difference which is dubbed as the Weitzman-Gollier puzzle has stimulated an intensive discussion which, however, is somewhat confusing. In this paper...
Persistent link: https://www.econbiz.de/10010412052
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Risk aversion and the value of risk to life
Bommier, Antoine; Villeneuve, Bertrand - 2004
This paper argues for an alternative methodology to estimate the value of risk to life. By relaxing the assumption of additive separability, we introduce risk aversion with respect to the length of life and show that the extended model better fits available data. This is crucial for the...
Persistent link: https://www.econbiz.de/10011450654
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Valuing public goods : the life satisfaction approach
Frey, Bruno S.; Lüchinger, Simon; Stutzer, Alois - 2004
This paper discusses a novel approach to elicit people s preferences for public goods, namely the life satisfaction approach. Reported subjective well-being data are used to directly evaluate utility consequences of public goods. The strengths of this approach are compared to traditional...
Persistent link: https://www.econbiz.de/10011402544
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Discounting and climate policy
Ploeg, Frederick van der - 2020
The social rate of discount is a crucial driver of the social cost of carbon (SCC), i.e. the expected present discounted value of marginal damages resulting from emitting one ton of carbon today. Policy makers should set carbon prices to the SCC using a carbon tax or a competitive permits...
Persistent link: https://www.econbiz.de/10012249287
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Optimal climate policy under exogenous and endogenous technical change : making sense of the different approaches
Coppens, Léo; Dietz, Simon; Venmans, Frank - 2024
major databases. We first show in theory how a range of technical-change mechanisms can be adequately captured in a reduced …
Persistent link: https://www.econbiz.de/10014515010
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Embedded discounting
Sneum, Daniel Møller; Soysal, Emilie Rosenlund; Nesje, … - 2023
The appraisal of public investments is subject to formal guidelines which often require input prices, such as forecasted energy prices. Using Danish guidelines as a case study, we explore the discounting assumptions in these input prices and find rates ranging from 2.97% to 17.5%, markedly...
Persistent link: https://www.econbiz.de/10014383298
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The internationalisation of R&D and the knowledge production function
García-Vega, María; Hofmann, Patricia; Kneller, Richard - 2012
This paper considers the effect of acquisition FDI on the knowledge production function. We distinguish between … complementarities in the knowledge assets of the MNE and the target firm as a reason for FDI. In contrast, consistent with technology … sourcing FDI, acquisitions from non-leading countries increase internal R&D efforts. -- MNE ; knowledge production function …
Persistent link: https://www.econbiz.de/10009503803
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On the long-run evolution of technological knowledge
Hakenes, Hendrik (contributor); Irmen, Andreas (contributor) - 2005
This paper revisits the debate about the appropriate differential equation that governs the evolution of knowledge in … the evolution of knowledge is plausible if it satisfies two asymptotic conditions: Looking forwards, infinite knowledge in … finite time should be excluded, and looking backwards, knowledge should vanish towards the beginning of time (but not before …
Persistent link: https://www.econbiz.de/10003110051
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Knowledge-capital meets new economic geography
Egger, Peter; Gruber, Stefan; Larch, Mario; … - 2005
We incorporate the now standard knowledge-capital model of multinational firms in a new economic geography setting. The …
Persistent link: https://www.econbiz.de/10002749786