Gollier Pricing the Planet's Future

The Economics of Discounting in an Uncertain World
Core Textbook
ISBN: 978-1-4008-4540-8
Verlag: De Gruyter
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 248 Seiten

No detailed description available for "Pricing the Planet's Future".

Autoren/Hrsg.

Gollier, Christian

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzsektor & Finanzdienstleistungen: Allgemeines
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Internationale Finanzmärkte

Inhaltsverzeichnis

Preface vii

Introduction 1

Part I: The Simple Economics of Discounting

1 Three Ways to Determine the Discount Rate 17

2 The Ramsey Rule 26

3 Extending the Ramsey Rule to an Uncertain
Economic Growth 41

Part II: The Term Structure of Discount Rates

4 Random Walk and Mean-Reversion
61

5 Markov Switches and Extreme Events 74

6 Parametric Uncertainty and Fat Tails 84

7 The Weitzman Argument 98

8 A Theory of the Decreasing Term Structure
of Discount Rates 111

Part III: Extensions

9 Inequalities 131

10 Discounting Non-monetary
Benefits 149

11 Alternative Decision Criteria 168

Part IV: Evaluation of Risky and Uncertain Projects

12 Evaluation of Risky Projects 185

13 The Option Value of Uncertain Projects 203

14 Evaluation of Non-marginal
Projects 215

Global Conclusion 225

Index 227

Über Autor(innen)

Christian Gollier is professor of economics at the University of Toulouse and director of the Toulouse School of Economics. He is the author of The Economics of Risk and Time and the coauthor of Economic and Financial Decisions under Risk (Princeton).