Advanced search
Publication Cover
Applied Economics Letters Volume 26, 2019 - Issue 21
Submit an article Journal homepage
148
Views
1
CrossRef citations to date
0
Altmetric
Articles

Uncertainty of capital productivity and declining discount rates

Shou ChenBusiness School, Hunan University, Changsha, Hunan, ChinaORCID Iconhttps://orcid.org/0000-0001-7817-4033View further author information
ORCID Icon,
Richard FuCollat School of Business, University of Alabama, Birmingham, AL, USAView further author information
,
Lei WedgeMuma College of Business, University of South Florida, Tampa, FL, USAView further author information
&
Ziran ZouBusiness School, Hunan University, Changsha, Hunan, ChinaCorrespondence[email protected]
View further author information
Pages 1779-1784 | Published online: 08 Apr 2019

References

  • Arrow, K. J., M. Cropper, C. Gollier, B. Groom, G. Heal, R. Newell, W. Nordhaus, et al. 2013. “Determining Benefits and Costs for Future Generations.” Science 341 (6144): 349–350. doi:10.1126/science.1235665.
  • Arrow, K. J., M. L. Cropper, C. Gollier, B. Groom, G. M. Heal, R. G. Newell, W. D. Nordhaus, et al. 2014. “Should Governments Use a Declining Discount Rate in Project Analysis?” Review of Environmental Economics and Policy 8 (2): 145–163. doi:10.1093/reep/reu008.
  • Cropper, M. L., M. C. Freeman, B. Groom, and W. A. Pizer. 2014. “Declining Discount Rates.” American Economic Review 104 (5): 538–543. doi:10.1257/aer.104.5.538.
  • Freeman, M. C. 2010. “Yes, We Should Discount the Far-Distant Future at Its Lowest Possible Rate: A Resolution of the Weitzman-Gollier Puzzle.” Economics: the Open-Access, Open-Assessment E-Journal 4: 1–21.
  • Gollier, C. 2004. “Maximizing the Expected Net Future Value as an Alternative Strategy to Gamma Discounting.” Finance Research Letters 1 (2): 85–89. doi:10.1016/j.frl.2004.04.001.
  • Gollier, C. 2010a. “Expected Net Present Value, Expected Net Future Value, and the Ramsey Rule.” Journal of Environmental Economics and Management 59 (2): 142–148. doi:10.1016/j.jeem.2009.11.003.
  • Gollier, C. 2010b. “Ecological Discounting.” Journal of Economic Theory 145 (2): 812–829. doi:10.1016/j.jet.2009.10.001.
  • Gollier, C. 2012. “Pricing the Planet’s Future: The Economics of Discounting in an Uncertain World.” In Pricing the Planet’s Future: The Economics of Discounting in an Uncertain world[M], edited by C. Gollier, 1–13. Princeton University Press.
  • Gollier, C. 2014. “Discounting and Growth.” American Economic Review 104 (5): 534–537. doi:10.1257/aer.104.5.534.
  • Gollier, C., and M. L. Weitzman. 2010. “How Should the Discount Future Be Discounted When Discount Rates are Uncertain?” Economics Letters 107 (3): 350–353. doi:10.1016/j.econlet.2010.03.001.
  • Harrison, J. M., and D. M. Kreps. 1979. “Martingales and Arbitrage in Multiperiod Securities Market.” Journal of Economic Theory 20 (3): 381–408. doi:10.1016/0022-0531(79)90043-7.
  • Shreve, S. 2004. Stochastic Calculus for Finance (Vol. I and II)[M]. Berlin Heidelberg, New York: Springer.
  • Weitzman, M. L. 1998. “Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate.” Journal of Environmental Economics and Management 36 (3): 201–208. doi:10.1006/jeem.1998.1052.
  • Weitzman, M. L. 2001. “Gamma Discounting.” American Economic Review 91 (1): 260–271. doi:10.1257/aer.91.1.260.
  • Weitzman, M. L. 2003. I“Applications of the Maximum Principle.” In Income, Wealth, and the Maximum Principle[M], edited by M. L. Weitzman, 150–157. Cambridge, London: Harvard University Press.
  • Weitzman, M. L. 2010. “Risk-Adjusted Gamma Discounting.” Journal of Environment Economics and Management 60 (1): 1–13. doi:10.1016/j.jeem.2010.03.002.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Order Reprints Request Corporate Permissions

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

Request Academic Permissions

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.

Related research

People also read lists articles that other readers of this article have read.

Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine.

Cited by lists all citing articles based on Crossref citations.
Articles with the Crossref icon will open in a new tab.