2014 | 10 | 1 | 10-17
Article title

Discounting in intergenerational investment appraisal - Survey results

Title variants
Languages of publication
Appraising projects with intergenerational effects is a complex task, incorporating the issue of bringing future impacts to present value. This is usually achieved by applying the discount factor. However, the choice of discount rate to intergenerational context faces multiple technical and moral problems. The paper analyses a theoretical rationale behind the concept of intergenerational discount rate and preliminary assessment of intergenerational discount rate level in Poland based on survey done in 2012 among Finance & Insurance Faculty students at University of Economics in Katowice showing the decline in the value of discount rates with time.
Physical description
  • Baumol, W.J., 1968. "On the social rate of discount", American Economic Review, Vol.58, Iss. 4, pp.788-802
  • Berbeka, K., 2008. "Problemy stosowania międzypokoleniowej stopy dyskontowej", Ekonomista, No.2, pp.233-242
  • Boardman, A.E., Greenberg, D. H., Vining, A. R., Weimer, D. L., 2001. "Cost-benefit analysis: Concepts and practice", Prentice Hall, Inc., Upper Saddle River, New Jersey
  • Chapman, G.B., 2001. "Time preferences for the very long term", Acta Psychologica, Vol.108, pp.95-116,
  • Cropper, M.L., Aydede, S. K., Portney, P. R., 1991. "Discounting human lives", American Journal of Agricultural Economics, Vol. 73, No. 5, pp.1410-1415,
  • Evans, D.J., Sezer, H., 2005. "Social discount rates for member countries of the European Union", Journal of Economic Studies, Vol.32, No.1, pp.47-59,
  • Foltyn-Zarychta, M., 2010. "Discounting in intergenerational project appraisal - efficient versus just decision making", Scientific Annals of the "Alexandru Ioan Cuza", Economic Sciences, Vol. LVII, University of Iasi, pp.289-301
  • Frederick, S., 2003. "Measuring intergenerational time preference: Are future lives valued less?", The Journal of Risk and Uncertainty, Vol. 26, No.1, pp.39-53,
  • Henderson, N., Bateman, I., 1995. "Empirical and public choice evidence for hyperbolic social discount rates and the implications for intergenerational discounting", Environmental and Resource Economics, No.5, pp.413-423,
  • Malaga, K., 2011. "The main strands and dilemmas of contemporary economic growth theory", Argumenta Oeconomica, No.1 (26), pp.2-26
  • Miłaszewski, R., 1999. "Zagadnienia ekonomicznej efektywności i finansowania indywidualnych oczyszczalni ścieków", in: Wawrentowicz D. (Ed.), Ochrona zasobów i jakości wód powierzchniowych i podziemnych, Ekonomia i Środowisko, Augustów
  • OXERA, 2002. "A social time preference rate for use in long-term discounting", OXERA, UK
  • Rączka, J., 2002. "Analiza efektywności kosztowej w oparciu o wskaźnik dynamicznego kosztu jednostkowego", Transform Advice Programme: Investment in Environmental Infrastructure in Poland, Warszawa
  • Weitzman, M. L., 2001. "Gamma discounting", The American Economic Review, Vol. 91, No.1, pp.260-271,
Document Type
Publication order reference
YADDA identifier
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.