Understanding the economic value of nature and the services it provides to humanity has become increasingly important for local, national and global policy and decision making. However, problems arise in that it is difficult to obtain meaningful values for goods and services that ecosystems...

This paper analyses the choice of an inter-generational discount rate as well as a method for inter-generational discounting. It is shown that the pure time preference rate is irrelevant for inter-generational comparisons. However, the application of the growth time preference rate - with...