Download or read book Constraints on Government Investment Opportunities and the Choice of Discount Rate written by and published by . This book was released on 1972 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic research study of optimization problems in respect of government investment policy decisions for public investment under certainty - reviews current economic theory and develops a mathematical model to estimate the required yield (profit) on a government project in relation to the rate of time preference. One-page bibliography.
Download or read book Constraints on Government Investment Opportunities and the Choice of Discount Rate written by David F. Bradford and published by . This book was released on 1972 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Choice of Discount Rate Applicable to Government Resource Use written by James P. Quirk and published by Rand Corporation. This book was released on 1987 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents a review of theories of the social discount rate, identifying the sources of divergent views and limitations of the theories in actual application. The question of the optimal discount rate to use in evaluating government projects has been debated in the economic literature since the late 1950s. The authors suggest that the discount rate be used as a filter rather than a device to achieve the desired level of government spending. Adopting this approach implies the choice of a discount rate that is in principle computable from existing data, with government budget limits acting as an effective constraint on government investment spending. Risk, flexibility, and data manipulability are considered. The approach is based purely on efficiency grounds and this does not require information on the social rate of time preference. It does not address important equity issues, which the authors believe can be better resolved outside the framework of cost-benefit analysis. Keywords: Federal budgets; Economic analysis; Investments. (SDW).
Download or read book The Choice of Discount Rate Applicable to Government Resource Use written by James P. Quirk and published by . This book was released on 1987 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report presents a review of theories of the social discount rate, identifying the sources of divergent views and limitations of the theories in actual application. The question of the optimal discount rate to use in evaluating government projects has been debated in the economic literature since the late 1950s. The authors suggest that the discount rate be used as a filter rather than a device to achieve the desired level of government spending. Adopting this approach implies the choice of a discount rate that is in principle computable from existing data, with government budget limits acting as an effective constraint on government investment spending. Risk, flexibility, and data manipulability are considered. The approach is based purely on efficiency grounds and this does not require information on the social rate of time preference. It does not address important equity issues, which the authors believe can be better resolved outside the framework of cost-benefit analysis. Keywords: Federal budgets; Economic analysis; Investments.
Download or read book Valuing Climate Damages written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-06-23 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Discounting and Intergenerational Equity written by Paul R. Portney and published by Routledge. This book was released on 2013-10-18 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: The full effects of decisions made today about many environmental policies -including climate change and nuclear waste- will not be felt for many years. For issues with long-term ramifications, analysts often employ discount rates to compare present and future costs and benefits. This is reasonable, and discounting has become a procedure that raises few objections. But are the methods appropriate for measuring costs and benefits for decisions that will have impacts 20 to 30 years from now the right ones to employ for a future that lies 200 to 300 years in the future? This landmark book argues that methods reasonable for measuring gains and losses for a generation into the future may not be appropriate when applied to a longer span of time. 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. These experts note reasons why conventional calculations involved in discounting are undermined when considering costs and benefits in the distant future, including uncertainty about the values and preferences of future generations, and uncertainties about available technologies. Rather than simply disassemble current methodologies, the contributors examine innovations that will make discounting a more compelling tool for policy choices that influence the distant future. They discuss the combination of a high shout-term with a low long-term diescount rate, explore discounting according to more than one set of anticipated preferences for the future, and outline alternatives involving simultaneous consideration of valuation, discounting and political acceptability.
Download or read book Uncertainties in Environmental Modelling and Consequences for Policy Making written by Philippe Baveye and published by Springer Science & Business Media. This book was released on 2009-05-14 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mathematical modelling has become in recent years an essential tool for the prediction of environmental change and for the development of sustainable policies. Yet, many of the uncertainties associated with modelling efforts appear poorly understood by many, especially by policy makers. This book attempts for the first time to cover the full range of issues related to model uncertainties, from the subjectivity of setting up a conceptual model of a given system, all the way to communicating the nature of model uncertainties to non-scientists and accounting for model uncertainties in policy decisions. Theoretical chapters, providing background information on specific steps in the modelling process and in the adoption of models by end-users, are complemented by illustrative case studies dealing with soils and global climate change. All the chapters are authored by recognized experts in their respective disciplines, and provide a timely and uniquely comprehensive coverage of an important field.
Download or read book Catastrophe Risk and Reinsurance written by Eugene N. Gurenko and published by World Bank Publications. This book was released on 2004 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Including the latest invaluable insights into catastrophe reinsurance, this book provides you with a wealth of risk management expertise gained from many of the largest catastrophe risk transfer programmes worldwide.
Download or read book Behavioral Economics for Cost Benefit Analysis written by David L. Weimer and published by Cambridge University Press. This book was released on 2017-09-14 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should policy analysts assess 'benefit validity' when behavioral anomalies appear relevant? David L. Weimer provides thoughtful answers through practical guidelines. Behavioral economists have identified a number of situations in which people appear not to behave according to the neoclassical assumptions underpinning welfare economics and its application to the assessment of the efficiency of proposed public policies through cost-benefit analysis. This book introduces the concept of benefit validity as a criterion for estimating benefits from observed or stated preference studies, and provides practical guidelines to help analysts accommodate behavioral findings. It considers benefit validity in four areas: violations of expected utility theory, unexpectedly large differences between willingness to pay and willingness to accept, non-exponential discounting, and harmful addiction. In addition to its immediate value to practicing policy analysts, it helps behavioral economists identify issues where their research programs can make practical contributions to better policy analysis.
Download or read book Cost Benefit Analysis written by Euston Quah and published by Routledge. This book was released on 2007-05-07 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should Malaysia build a new steel mill, or New York City an urban motorway? Should higher education expand, or water supplies be improved? These are typical questions to which cost-benefit analysis, the key economic tool for analyzing problems of social choice can contribute to, as well as providing a useful vehicle for understanding the practical value of welfare economics. This invaluable text covers the main problems that arise in a typical cost-benefit exercise. Cost-benefit analysis is used everywhere, but its techniques are particularly prominent in fields where there is some kind of ethical dimension. For this edition, E.J. Mishan has been joined by Euston Quah, to explore new themes, including the impact of uncertainty on cost-benefit analysis and to introduce a host of new and up-to-date case studies.
Download or read book Arguing about Climate Change written by Marc David Davidson and published by Amsterdam University Press. This book was released on 2008-12-01 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation. This title can be previewed in Google Books - http://books.google.com/books?vid=ISBN9789056295530.
Download or read book Improving the Air Traffic Control System written by David Leonard Lewis and published by . This book was released on 1983 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The European Roots of the Eurozone Crisis written by Mario Baldassarri and published by Springer. This book was released on 2017-10-01 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the Eurozone crisis in light of theoretical and empirical evidence. The first half explores specific theoretical contributions within a framework of growth theory models to examine the two major pillars of the European construction, the European Central Bank and the Maastricht Treaty, and seeks to explain why they are theoretically wrong. The second half presents results of counterfactual simulations using the Oxford Econometric model and estimates what the Eurozone has lost in terms of economic and social cost from 2002 to 2014 as a consequence of the super-evaluation of the Euro and the Maastricht Treaty parameters being mistakenly fixed and pursued. Finally, the author supports the urgent need to refund the European Union, up-dating The Maastricht Treaty and the ECB statute to build three concentric circles: the USE (United States of Europe), the EU (European Union), the EAFTDA (Europe/Africa Free Trade and Development Area).
Download or read book Discounting for Time and Risk in Energy Policy written by Robert C. Lind and published by Routledge. This book was released on 2013-10-18 with total page 491 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a collection of theoretical papers, including contributions by Partha Dasgupta and three Nobel prize-winning economists: Kenneth Arrow, Amartya Sen, and Joseph Stiglitz. Originally published in 1982.
Download or read book Cost Benefit Analysis written by Tevfik F. Nas and published by SAGE. This book was released on 1996-02-14 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author introduces "the foundation of relevant economic theory," outlines "the steps involved in a typical cost-benefit analysis," and addresses "topics such as consumer surplus, compensating variation, equivalent variation, shadow pricing, income distribution, and much more."--Cover.
Download or read book Applied Welfare Economics written by Massimo Florio and published by Taylor & Francis. This book was released on 2022-08-30 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applied Welfare Economics: Cost-Benefit Analysis for Project and Policy Evaluation presents a consistent framework for applied welfare economics and is grounded in a comprehensive theory of cost-benefit analysis, specifically focused on offering a practical approach to policy and project evaluation. After opening with a theoretical discussion of the concept of social welfare, a critical analysis of the traditional doctrine of welfare economics embodied in the Two Fundamental Theorems, and a presentation of social cost-benefit analysis, the book introduces readers to an applied framework. This includes the empirical estimation of shadow prices of goods, the social cost of labour and capital, and the assessment of risk. The book also examines real-life experiences with cost-benefit analysis, including ex-post evaluation of major projects, economic rates of return in different sectors, and a case study on privatisation. These chapters draw on first-hand research gained by the author team from years of advisory work for the European Commission and other international and national institutions. This second edition presents updated data, more international examples, and more coverage of topics such as very long run discounting effects and climate change as an intergenerational effect. It also includes more practical examples and end-of-chapter questions to aid student’s learning. Applied Welfare Economics is a valuable textbook for upper-level courses on welfare economics, cost-benefit analysis, public policy analysis and related areas.
Download or read book Introduction to Cost Benefit Analysis written by Ginés de Rus and published by Edward Elgar Publishing. This book was released on 2021-03-26 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thoroughly updated second edition incorporates key ideas and discussions on issues such as wider economic impacts, the treatment of risk, and the importance of institutional arrangements in ensuring the correct use of technique. Ginés de Rus considers whether public decisions, such as investing in high-speed rail links, privatizing a public enterprise or protecting a natural area, may improve social welfare.
