Pricing the Planet's Future : : The Economics of Discounting in an Uncertain World / / Christian Gollier.
Our path of economic development has generated a growing list of environmental problems including the disposal of nuclear waste, exhaustion of natural resources, loss of biodiversity, climate change, and polluted land, air, and water. All these environmental problems raise the crucial challenge of d...
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Gollier, Christian, author. aut http://id.loc.gov/vocabulary/relators/aut Pricing the Planet's Future : The Economics of Discounting in an Uncertain World / Christian Gollier. Core Textbook Princeton, NJ : Princeton University Press, [2012] ©2013 1 online resource (248 p.) : 27 line illus. 10 tables. text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Preface -- Introduction -- Part I: The Simple Economics of Discounting -- 1. Three Ways to Determine the Discount Rate -- 2. The Ramsey Rule -- 3. Extending the Ramsey Rule to an Uncertain Economic Growth -- Part II: The Term Structure of Discount Rates -- 4. Random Walk and Mean-Reversion -- 5. Markov Switches and Extreme Events -- 6. Parametric Uncertainty and Fat Tails -- 7. The Weitzman Argument -- 8. A Theory of the Decreasing Term Structure of Discount Rates -- Part III: Extensions -- 9. Inequalities -- 10. Discounting Non-monetary Benefits -- 11. Alternative Decision Criteria -- Part IV: Evaluation of Risky and Uncertain Projects -- 12. Evaluation of Risky Projects -- 13. The Option Value of Uncertain Projects -- 14. Evaluation of Non-marginal Projects -- Global Conclusion -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Our path of economic development has generated a growing list of environmental problems including the disposal of nuclear waste, exhaustion of natural resources, loss of biodiversity, climate change, and polluted land, air, and water. All these environmental problems raise the crucial challenge of determining what we should and should not do for future generations. It is also central to other policy debates, including, for example, the appropriate level of public debt, investment in public infrastructure, investment in education, and the level of funding for pension benefits and for research and development. Today, the judge, the citizen, the politician, and the entrepreneur are concerned with the sustainability of our development. The objective of Pricing the Planet's Future is to provide a simple framework to organize the debate on what we should do for the future. A key element of analysis by economists is the discount rate--the minimum rate of return required from an investment project to make it desirable to implement. Christian Gollier outlines the basic theory of the discount rate and the various arguments that favor using a smaller discount rate for more distant cash flows. With principles that can be applied to many policy areas, Pricing the Planet's Future offers an ideal framework for dynamic problems and decision making. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021) Discount. Investments Social aspects. BUSINESS & ECONOMICS / Development / Sustainable Development. bisacsh CBA. Markov switches. NPV. Poisson two-armed bandit. Ramsey rule. Weitzman argument. actual behaviors. adaptations. alternative decision criteria. backward induction. biodiversity. canonical models. capital. classical discounting approach. climate change. competitive economy. concordance. consumption. cost-benefit analysis. development sustainability. discount rate. discounted expected utility. ecological discount rate. ecological environments. economic depressions. economic development. economic growth rates. economic growth. economic reversions. economics. efficient discount rates. environmental assets. environmental policies. environmental quality. environmental risks. extreme events. fat tails. future environmental damages. future planning. inequalities. inequality aversion. interest rate. intergenerational habit formation. intergenerational welfare. intertemporal inequalities. investment opportunities. investment project selection. liquidity. long-term credit contracts. long-term growth. long-term risk. macroeconomic effects. maxmin ambiguity aversion. mean-reversion. natural resource exhaustion. net benefit. net future value. net present value. net present values. new investment opportunities. non-marginal projects. non-monetary benefits. nuclear waste disposal. option value. parametric uncertainty. pollution. positive discount rate. possible investments. precautionary effect. project valuation. public debt. public infrastructure. public policies. radical economic transformations. random walk. recursive expected utility. risk aversion. risk management. risk preferences. risk premium. risk. risky assets. risky projects. safe investment projects. safe investment. safe projects. saving. smooth ambiguity aversion. social welfare. stochastic dominance approach. substitution. term structure. theory of investment. two-period model. uncertain cash flows. uncertain economic growth. uncertain projects. uncertainty. unequal society. utility function. wealth inequalities. Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 9783110442502 print 9780691148762 https://doi.org/10.1515/9781400845408?locatt=mode:legacy https://www.degruyter.com/isbn/9781400845408 Cover https://www.degruyter.com/cover/covers/9781400845408.jpg |
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English |
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Gollier, Christian, Gollier, Christian, |
spellingShingle |
Gollier, Christian, Gollier, Christian, Pricing the Planet's Future : The Economics of Discounting in an Uncertain World / Frontmatter -- Contents -- Preface -- Introduction -- Part I: The Simple Economics of Discounting -- 1. Three Ways to Determine the Discount Rate -- 2. The Ramsey Rule -- 3. Extending the Ramsey Rule to an Uncertain Economic Growth -- Part II: The Term Structure of Discount Rates -- 4. Random Walk and Mean-Reversion -- 5. Markov Switches and Extreme Events -- 6. Parametric Uncertainty and Fat Tails -- 7. The Weitzman Argument -- 8. A Theory of the Decreasing Term Structure of Discount Rates -- Part III: Extensions -- 9. Inequalities -- 10. Discounting Non-monetary Benefits -- 11. Alternative Decision Criteria -- Part IV: Evaluation of Risky and Uncertain Projects -- 12. Evaluation of Risky Projects -- 13. The Option Value of Uncertain Projects -- 14. Evaluation of Non-marginal Projects -- Global Conclusion -- Index |
author_facet |
Gollier, Christian, Gollier, Christian, |
author_variant |
c g cg c g cg |
author_role |
VerfasserIn VerfasserIn |
author_sort |
Gollier, Christian, |
title |
Pricing the Planet's Future : The Economics of Discounting in an Uncertain World / |
title_sub |
The Economics of Discounting in an Uncertain World / |
title_full |
Pricing the Planet's Future : The Economics of Discounting in an Uncertain World / Christian Gollier. |
title_fullStr |
Pricing the Planet's Future : The Economics of Discounting in an Uncertain World / Christian Gollier. |
title_full_unstemmed |
Pricing the Planet's Future : The Economics of Discounting in an Uncertain World / Christian Gollier. |
title_auth |
Pricing the Planet's Future : The Economics of Discounting in an Uncertain World / |
title_alt |
Frontmatter -- Contents -- Preface -- Introduction -- Part I: The Simple Economics of Discounting -- 1. Three Ways to Determine the Discount Rate -- 2. The Ramsey Rule -- 3. Extending the Ramsey Rule to an Uncertain Economic Growth -- Part II: The Term Structure of Discount Rates -- 4. Random Walk and Mean-Reversion -- 5. Markov Switches and Extreme Events -- 6. Parametric Uncertainty and Fat Tails -- 7. The Weitzman Argument -- 8. A Theory of the Decreasing Term Structure of Discount Rates -- Part III: Extensions -- 9. Inequalities -- 10. Discounting Non-monetary Benefits -- 11. Alternative Decision Criteria -- Part IV: Evaluation of Risky and Uncertain Projects -- 12. Evaluation of Risky Projects -- 13. The Option Value of Uncertain Projects -- 14. Evaluation of Non-marginal Projects -- Global Conclusion -- Index |
title_new |
Pricing the Planet's Future : |
title_sort |
pricing the planet's future : the economics of discounting in an uncertain world / |
publisher |
Princeton University Press, |
publishDate |
2012 |
physical |
1 online resource (248 p.) : 27 line illus. 10 tables. Issued also in print. |
edition |
Core Textbook |
contents |
Frontmatter -- Contents -- Preface -- Introduction -- Part I: The Simple Economics of Discounting -- 1. Three Ways to Determine the Discount Rate -- 2. The Ramsey Rule -- 3. Extending the Ramsey Rule to an Uncertain Economic Growth -- Part II: The Term Structure of Discount Rates -- 4. Random Walk and Mean-Reversion -- 5. Markov Switches and Extreme Events -- 6. Parametric Uncertainty and Fat Tails -- 7. The Weitzman Argument -- 8. A Theory of the Decreasing Term Structure of Discount Rates -- Part III: Extensions -- 9. Inequalities -- 10. Discounting Non-monetary Benefits -- 11. Alternative Decision Criteria -- Part IV: Evaluation of Risky and Uncertain Projects -- 12. Evaluation of Risky Projects -- 13. The Option Value of Uncertain Projects -- 14. Evaluation of Non-marginal Projects -- Global Conclusion -- Index |
isbn |
9781400845408 9783110442502 9780691148762 |
callnumber-first |
H - Social Science |
callnumber-subject |
HG - Finance |
callnumber-label |
HG1651 |
callnumber-sort |
HG 41651 G65 42017 |
url |
https://doi.org/10.1515/9781400845408?locatt=mode:legacy https://www.degruyter.com/isbn/9781400845408 https://www.degruyter.com/cover/covers/9781400845408.jpg |
illustrated |
Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
332 - Financial economics |
dewey-full |
332.84 |
dewey-sort |
3332.84 |
dewey-raw |
332.84 |
dewey-search |
332.84 |
doi_str_mv |
10.1515/9781400845408?locatt=mode:legacy |
oclc_num |
979629776 |
work_keys_str_mv |
AT gollierchristian pricingtheplanetsfuturetheeconomicsofdiscountinginanuncertainworld |
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ids_txt_mv |
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cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
is_hierarchy_title |
Pricing the Planet's Future : The Economics of Discounting in an Uncertain World / |
container_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
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