Skip to main content Accessibility help
×
Hostname: page-component-7479d7b7d-767nl Total loading time: 0 Render date: 2024-07-12T23:30:40.650Z Has data issue: false hasContentIssue false

7 - Preferences over Time and across Space

from Part I - Making Decisions that Maximize Utility

Published online by Cambridge University Press:  24 August 2017

M. Granger Morgan
Affiliation:
Carnegie Mellon University, Pennsylvania
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
Theory and Practice in Policy Analysis
Including Applications in Science and Technology
, pp. 185 - 206
Publisher: Cambridge University Press
Print publication year: 2017

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Arrow, K., Cropper, M., Gollier, C. et al. (2013). “Determining Benefits and Costs for Future Generations,” Science, 341, pp. 349350.Google Scholar
Au, T. and Au, T. (1983). Engineering Economics for Capital Investment Analysis, Allyn & Bacon, 506pp.Google Scholar
Bleichrodt, H., Rohde, K.I.M., and Wakker, P.P. (2008). “Koopmans’ Constant Discounting for Intertemporal Choice: A Simplification and a Generalization,” Journal of Mathematical Psychology, 52, pp. 341–347.Google Scholar
Boroditsky, L. (2000). “Metaphoric Structuring: Understanding Time through Spatial Metaphors,” Cognition, 75, pp. 128.Google Scholar
Colwell, P., Gujral, S., and Coley, C. (1985). “The Impact of a Shopping Center on the Value of Surrounding Properties,” Real Estate Issues, 10(1), pp. 35–39.Google Scholar
Cooper, M.L., Aydede, A.K., and Portney, P.R. (1994). “Preferences for Life Saving Programs: How the Public Discounts Time and Age,” Journal of Risk and Uncertainty, 9(3), pp. 243265.Google Scholar
de Neufville, R. and Scholtes, S. (2011). Flexibility in Engineering Design, MIT Press, 293pp.Google Scholar
Feldstein, M.S. (1972). “The Inadequacy of Weighted Discount Rates,” in Layard, R. (ed.), Cost Benefit Analysis, Penguin Books, pp. 311331.Google Scholar
Frederick, S., Loewenstein, G., and O’Donoghue, T. (2002). “Time Discounting and Time Preference: A Critical Review,” Journal of Economic Literature, 40, pp. 351401.Google Scholar
Freeman, M.C., Groom, B., Panopoulou, E., and Pantelidis, T. (2015). “Declining Discount Rates and the Fisher Effect: Inflated Past, Discounted Future,” Journal of Environmental Economics and Management, 73, pp. 3249.Google Scholar
Groom, B., Koundouri, P., Panopoulou, E., and Pantelidis, T. (2007). “Discounting the Distant Future: How Much Does Model Selection Affect the Certainty Equivalent Rate?,” Journal of Applied Econometrics, 22, pp. 641656.Google Scholar
Hannon, B. (1994). “Sense of Place: Geographic Discounting by People, Animals and Plants,” Ecological Economics, 10, pp. 157174.Google Scholar
Hauser, O.P., Rand, D.G., Peysakhovich, A., and Nowak, M.A. (2014). “Cooperating with the Future,” Nature, 511(7508), pp. 220223.CrossRefGoogle ScholarPubMed
Heal, G. (2005). “Chapter 12: Intertemporal Welfare Economics and the Environment,” in Mäler, K.-G and Vincent, J.R. (eds.), Handbook of Environmental Economics, Elsevier, pp. 11051145.Google Scholar
Heal, G. (2009). “The Economics of Climate Change: A Post-Stern Perspective,” Climatic Change, 96, pp. 275297.CrossRefGoogle Scholar
Heal, G.M. and Millner, A. (2014). “Agreeing to Disagree on Climate Policy,” Proceedings of the National Academy of Science, 111(10), pp. 36953698.Google Scholar
Henderson, N. and Bateman, I. (1995). “Empirical and Public Choice Evidence for Hyperbolic Social Discount Rates and the Implications of Intergenerational Discounting,” Environmental and Resources Economics, 5, pp. 413423.Google Scholar
Hendrickson, C. (2008). Fundamental Concepts for Owners, Engineers, Architects and Builders. Available at: http://pmbook.ce.cmu.edu.Google Scholar
Hertzler, G. (2006). “Chapter 4: Compounding and Discounting under Risk: Net Present Values and Real Option Values,” in Pannell, D.J. and Schilizzi, S.G.M. (eds.), Economics and the Future: Time and Discounting in Private and Public Decision Making, Edward Elgar, pp. 3755.Google Scholar
IPCC (2014). “Chapter 3: Social, Economic and Ethical Concepts and Methods” in the draft report of Working Group III, Mitigation of Climate Change, 128pp. Available at: http://mitigation2014.org/report/final-draft.Google Scholar
Karp, L. (2007). “Non-constant Discounting in Continuous Time,” Journal of Economic Theory, 132(1), pp. 557568.CrossRefGoogle Scholar
Keeney, R.L. (1980). “Chapter 7: Evaluating Site Impacts,” in Siting Energy Facilities, Academic Press, 413pp.Google Scholar
Koopmans, T.C. (1960). “Stationary Ordinal Utility and Impatience,” Econometrica, 28(2), pp. 287309.Google Scholar
Layard, R. (ed.) (1972). Cost Benefit Analysis, Penguin Books, 496pp.Google Scholar
Lempert, R.J., Groves, D.G., Popper, S.W., and Bankes, S.C. (2006). “A General, Analytic Method for Generating Robust Strategies and Narrative Scenarios,” Management Science, 52(4), pp. 514–528.Google Scholar
Lind, R.C. (1982). “Introduction,” in Lind, R.C., Arrow, K.J., Corey, G.R. et al., Discounting for Time and Risk in Energy Policy, Johns Hopkins University Press, pp. 119.Google Scholar
Lyon, R. (1990). “Federal Discount Rate Policy: The Shadow Price of Capital, and Challenges for Reforms,” Journal of Environmental Economics and Management, 18(2), pp. S29S50.Google Scholar
March, J.G. (1978). “Bounded Rationality, Ambiguity, and the Engineering of Choice,” The Bell Journal of Economics, 9(2), pp. 587608.CrossRefGoogle Scholar
Mitchell, R. and Carson, R. (1986). “Property Rights, Protest, and the Siting of Hazardous Waste Facilities,” Report no. 230, Resources for the Future.Google Scholar
Newell, R.G. and Pizer, W.A. (2003). “Regulating Stock Externalities under Uncertainty,” Journal of Environmental Economics and Management, 45, pp. 416432.CrossRefGoogle Scholar
Pannell, D.J. (2006). “Chapter 3: Avoiding Simplistic Assumptions in Discounting Cash Flows for Private Decisions,” in Pannell, D.J. and Schilizzi, S.G.M. (eds.), Economics and the Future: Time and Discounting in Private and Public Decision Making, Edward Elgar, pp. 2535.CrossRefGoogle Scholar
Park, C.S. (2011). Contemporary Engineering Economics, Prentice Hall, 936pp.Google Scholar
Portney, P.R. and Weyant, J. (eds.) (1999). Discounting and Intergenerational Equity, RFF Press, 186pp.Google Scholar
Ramsey, F. (1928). “A Mathematical Theory of Saving,” The Economic Journal, 38, pp. 543559.Google Scholar
Samuelson, P. (1937). “A Note on Measurement of Utility,” The Review of Economic Studies, 4(2), pp. 155–161.CrossRefGoogle Scholar
Schelling, T.C. (1995). “Intergenerational Discounting,” Energy Policy, 23, pp. 395401.Google Scholar
Secomandi, N. and Seppi, D.J. (2014). “Real Options and Merchant Operations of Energy and Other Commodities,” Foundations and Trends in Technology, Information and Operations Management, 6(3–4), pp. 161–331.Google Scholar
Steininger, K. (2002). “Spatial Discounting and the Environment: An Empirical Investigation into Human Preferences,” in Puttaswamaiah, K. (ed.), Cost Benefit Analysis: Environmental and Ecological Perspectives, Transaction Publishers, pp. 253268.Google Scholar
Viscusi, W.K. (1992). Fatal Tradeoffs: Public and Private Responsibilities for Risk, Oxford University Press, 306pp.Google Scholar
Weitzman, M.L. (1998). “Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate,” Journal of Environmental Economics and Management, 36, pp. 201208.CrossRefGoogle Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×