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SSRN Electronic Journal, 2022
We construct a dataset of firms’ discount rates (i.e., required returns to capital) and perceived cost of capital using corporate conference calls. The relation between discount rates and the cost of capital is far below the one-to-one mapping assumed in standard theory, as it takes many years for changes in the cost of capital to be incorporated into
Niels Joachim Gormsen, Kilian Huber
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We construct a dataset of firms’ discount rates (i.e., required returns to capital) and perceived cost of capital using corporate conference calls. The relation between discount rates and the cost of capital is far below the one-to-one mapping assumed in standard theory, as it takes many years for changes in the cost of capital to be incorporated into
Niels Joachim Gormsen, Kilian Huber
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Behavioural Processes, 2019
Discounting refers to the way in which the value of an outcome depends on the delay until it is obtained. If an organism's discount function is known, then its rate of discounting at any delay can be found. If the function is not known, the normalised area under an estimate of the discount function has been used as a measure that summarises the ...
Houston, Alexander J.H. +1 more
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Discounting refers to the way in which the value of an outcome depends on the delay until it is obtained. If an organism's discount function is known, then its rate of discounting at any delay can be found. If the function is not known, the normalised area under an estimate of the discount function has been used as a measure that summarises the ...
Houston, Alexander J.H. +1 more
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Eliciting Individual Discount Rates
Experimental Economics, 1999AbstractControlled laboratory conditions using monetary incentives have been utilized in previous studies that examine individual discount rates, and researchers have found several apparently robust anomalies. We conjecture that subject behavior in these experiments may be affected by (uncontrolled) factors other than discount rates.
Coller, Maribeth, Williams, Melonie B.
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Journal of Political Economy, 1981
In a recent issue of thisJournal, Mohabbat and Simos (1978) provided estimates of the rate of discount using Kendrick's (1976) series of total private wealth. Since Kendrick also provides estimates of the division of total wealth between human, Wh, and nonhuman, W,, wealth, it should be of interest to investigate how the discount rates differ between ...
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In a recent issue of thisJournal, Mohabbat and Simos (1978) provided estimates of the rate of discount using Kendrick's (1976) series of total private wealth. Since Kendrick also provides estimates of the division of total wealth between human, Wh, and nonhuman, W,, wealth, it should be of interest to investigate how the discount rates differ between ...
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SSRN Electronic Journal, 2008
A social time preference methodology derived from Feldstein (1965) is applied to calculate social discount rates across 167 countries and across time from 2005-2050 for a country case (Brazil). This attempt seeks to compute comparable figures from a homogeneous dataset and provides a ready-to-use framework for computing the social discount rate. Social
Joice Valentim, Mauricio Prado
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A social time preference methodology derived from Feldstein (1965) is applied to calculate social discount rates across 167 countries and across time from 2005-2050 for a country case (Brazil). This attempt seeks to compute comparable figures from a homogeneous dataset and provides a ready-to-use framework for computing the social discount rate. Social
Joice Valentim, Mauricio Prado
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Aggregate Social Discount Rate Derived from Individual Discount Rates
Management Science, 2002In the economic evaluation of large public-sector projects, an aggregate social discount rate may be used in present worth comparison of alternatives. This paper uses the assumptions that individual discount rates are constant over time and approximately Normally distributed across the affected population, with mean μ and variance σ2, to derive an ...
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, 2009 We find that a discount rate of 3.8% allows us to derive the schedule of value of life years in Murphy and Topel [2006] from their schedule of value of remaining years of life, this latter presumably being based on a value of statistical life of $6.3 million. We draw on the Makeham function for life expectancy in our calculation.
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2017
The most important price in any CBA in the public domain is invariably the discount rate that is used. For in virtually any CBA in the public sphere, the costs and benefits involved do not usually accrue instantaneously at the point in time at which a particular project in question is carried out. They are usually spread over many years.
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The most important price in any CBA in the public domain is invariably the discount rate that is used. For in virtually any CBA in the public sphere, the costs and benefits involved do not usually accrue instantaneously at the point in time at which a particular project in question is carried out. They are usually spread over many years.
openaire +1 more source