Dobija, Mieczysław; Renkas, Jurij - In: Risks : open access journal 11 (2023) 7, pp. 1-12
Current theories of the discount rate have a theoretical basis focused on risk; risk-free rate and risk premium. The basic component of the discount rate, the risk-free rate as purely empirical has a natural infirmity which consequently weakens the final theory. Similarly, the risk premium...