Cookies?
Library Header Image
LSE Research Online LSE Library Services

Determining benefits and costs for future generations

Arrow, K. and Cropper, M. and Gollier, C. and Groom, B. and Heal, G. and Newell, R. and Nordhaus, W. and Pindyck, R. and Pizer, W. and Portney, P. and Sterner, T. and Tol, R. S. J. and Weitzman, M. (2013) Determining benefits and costs for future generations. Science, 341 (6144). pp. 349-350. ISSN 0036-8075

Full text not available from this repository.

Identification Number: 10.1126/science.1235665

Abstract

In economic project analysis, the rate at which future benefits and costs are discounted relative to current values often determines whether a project passes the benefit-cost test. This is especially true of projects with long time horizons, such as those to reduce greenhouse gas (GHG) emissions. Whether the benefits of climate policies, which can last for centuries, outweigh the costs, many of which are borne today, is especially sensitive to the rate at which future benefits are discounted. This is also true of other policies, e.g., affecting nuclear waste disposal or the construction of long-lived infrastructure.

Item Type: Article
Official URL: http://www.sciencemag.org/
Additional Information: © 2013 American Association for the Advancement of Science
Subjects: H Social Sciences > HB Economic Theory
Sets: Departments > Geography and Environment
Collections > Economists Online
Date Deposited: 09 Aug 2013 13:59
Last Modified: 09 Aug 2013 13:59
URI: http://eprints.lse.ac.uk/id/eprint/51626

Actions (login required)

View Item View Item