Browsing by Author "Maler, K.G."
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Item Intertemporal equity, discounting and economic efficiency in IPCC Second Assessment Report WGIII - Climate Change 1995: Economic and Social Dimensions of Climate Change.(Cambridge University Press, 2023) Arrow, K.J.; Cline, W.R.; Maler, K.G.; Munasinghe, M; Squitieri, R; Stiglitz, J.E.The discount rate allows economic effects occurring at efferent times to be compared. It plays a vital role in public policy analysis of actions with varying time paths of costs of costs and benefits. It is particularly important in climate change. Because of the very long times involved in climate change decisions, the choice of a discount rate powerfully affects the net present value of alternative policies, and thus the policy recommendations that emerge from climate change analysis.