Discounting the distant future: how much do uncertain rates increase valuations?

Article Abstract:

The distant future should be discounted at significantly lower rates than suggested by the current rate when the future path of the discount rate is uncertain and highly correlated is demonstrated. Two centuries of US interest rate data is used to quantify this effect.

Forecasts, trends, outlooks, Interest Rates, Forecasts and trends, Market trend/market analysis, Discount rates

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Sequential development and exploitation of an exhaustible resource: do monopoly rights promote conservation?

Article Abstract:

The strategies followed by a monopoly while facing different setup costs in exploiting exhaustible resources are analyzed. The factors on which incentives of a monopolist are dependent as compared to a social planner are determined.

Management dynamics, Health, Educatn & Welfare Programs, Administration of Human Resource Programs, Management, Economic aspects, Social policy, Monopolies, Company business management, Cost (Economics), Costs (Economics)

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Instrument choice for environmental protection when technological innovation is endogenous

Article Abstract:

The welfare effects of emission taxes, auctioned emission permits and free permits are studied. The types of situations when there can be significant welfare discrepancies between the policies and when there are not are examined.

Control, Environmental protection, Emissions (Pollution), Environmental issue, Automotive emissions

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