Table of Contents
ISRN Economics
Volume 2012 (2012), Article ID 982093, 13 pages
http://dx.doi.org/10.5402/2012/982093
Research Article

Optimal Discount Rates for Government Projects

Office of Management and Budget, 725 17th Street NW #9025, Washington, WA 20503, USA

Received 19 April 2012; Accepted 16 May 2012

Academic Editors: E. L. Khalil, N. Vestergaard, and E. Yeldan

Copyright © 2012 Sangkyun Park. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Linked References

  1. C. Gollier, “Discounting an uncertain future,” Journal of Public Economics, vol. 85, no. 2, pp. 149–166, 2002. View at Publisher · View at Google Scholar · View at Scopus
  2. B. Groom, C. Hepburn, P. Koundouri, and D. Pearce, “Declining discount rates: the long and the short of it,” Environmental and Resource Economics, vol. 32, no. 4, pp. 445–493, 2005. View at Publisher · View at Google Scholar · View at Scopus
  3. M. A. Moore, A. E. Boardman, A. R. Vining, D. L. Weimer, and D. H. Greenberg, ““Just give me a number!” Practical values for the social discount rate,” Journal of Policy Analysis and Management, vol. 23, no. 4, pp. 789–812, 2004. View at Publisher · View at Google Scholar · View at Scopus
  4. M. L. Weitzman, “Gamma discounting,” American Economic Review, vol. 91, no. 1, pp. 260–271, 2001. View at Google Scholar · View at Scopus
  5. R. J. Zeckhauser and W. K. Viscusi, “Discounting dilemmas: editors' introduction,” Journal of Risk and Uncertainty, vol. 37, no. 2-3, pp. 95–106, 2008. View at Publisher · View at Google Scholar · View at Scopus
  6. K. J. Arrow and R. C. Lind, “Uncertainty and the evaluation of public investment decisions,” American Economic Review, vol. 60, no. 3, pp. 364–378, 1970. View at Google Scholar
  7. P. A. Samuelson, “Discussion,” American Economic Review, vol. 54, no. 3, pp. 93–96, 1964. View at Google Scholar
  8. W. Vickrey, “Discussion,” American Economic Review, vol. 54, no. 3, pp. 88–92, 1964. View at Google Scholar
  9. J. Hirshleifer, “Investment decision under uncertainty: applications of the state-preference approach,” Quarterly Journal of Economics, vol. 80, no. 2, pp. 252–277, 1966. View at Publisher · View at Google Scholar
  10. P. A. Diamond, “The role of a stock market in a general equilibrium model with technological uncertainty,” American Economic Review, vol. 57, no. 4, pp. 759–776, 1967. View at Google Scholar
  11. A. Sandmo, “Discount rates for public investment under uncertainty,” International Economic Review, vol. 13, no. 2, pp. 287–302, 1972. View at Publisher · View at Google Scholar
  12. C. Bazelon and K. Smetters, “Discounting inside the Washington D.C. beltway,” Journal of Economic Perspectives, vol. 13, no. 4, pp. 213–228, 1999. View at Google Scholar · View at Scopus
  13. D. Lucas and M. Phaup, “The cost of risk to the government and its implications for federal budgeting,” in Measuring and Managing Federal Financial Risk, pp. 29–54, University of Chicago Press, Chicago, Ill, USA, 2010. View at Google Scholar
  14. J. Hirshleifer, Investment, Interest and Capital, Prentice-Hall, Englewood Cliffs, NJ, USA, 1970.