منابع مشابه
On non-marginal cost-benefit analysis
Conventional benefit-cost analysis incorporates the normally reasonable assumption that the policy or project under examination is marginal. In particular, it is assumed that the policy or project does not change the underlying growth rate of the economy. However, this assumption may be inappropriate in some important circumstances, notably responding to climate change. One example is the benef...
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Conventional benefit-cost analysis incorporates the normally reasonable assumption that the policy or project under examination is marginal. Among the assumptions this entails is that the policy or project is small, so the underlying growth rate of the economy does not change. However, this assumption may be inappropriate in some important circumstances, including in climate-change and energy p...
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This paper uses the Kaldor-Hicks compensation principle to compute the present value (PV) of a non-marginal future event. Three theoretical results stand out: first, decreasing returns to capital create a wedge between the PV of future generations’ willingness to pay (WTP) and the PV of their willingness to accept compensation (WTA); second, the discount rates implicit in the computation of the...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.957992