AN INTRODUCTION TO SPATIAL DISCOUNTING

Article Abstract:

Research on the valuation of environmental externalities shows that decision makers tend to discount not only over time but across space. Just as time discounting has implications for intergenerational equity, geographical or spatial discounting has implications for intragenerational equity. Similarly, just as positive time discount rates are warranted by positive net rates of growth of the capital stock, positive spatial discount rates may be warranted by the fact that environmental (or other external) effects of economic activity are diffused at positive rates. This paper introduces the notion of spatial discounting and explores its welfare implications through a simple diffusion model.

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INTEGRATING TRANSPORTATION NETWORK AND REGIONAL ECONOMIC MODELS TO ESTIMATE THE COSTS OF A LARGE URBAN EARTHQUAKE

Article Abstract:

In this paper we summarize an integrated, operational model of losses due to earthquake impacts on transportation and industrial capacity, and how these losses affect the metropolitan economy. The procedure advances the information provided by transportation and activity system analysis techniques in ways that help capture the most important ecomonic implications of earthquakes. Network costs and origin-destination requirements are modeled endogenously and consistently. Indirect and induced losses associated with direct impacts on transportation and industrial capacity are distributed

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