Edited By: David Pannell and Steven Schilizzi
This book argues that discounting is a perennial problem for economists; it is an essential component of assessing economic comparisons over time, but a number of practical and theoretical difficulties continue to confront its use. This is especially so for economists concerned with long time horizons, such as the management of the environment and natural resources. Discounting is perhaps the area of economics that generates the most disquiet and confusion from outside the discipline.
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