Corpus ID: 13985725

Valuing the future: recent advances in social discounting

@article{Pearce2003ValuingTF,
  title={Valuing the future: recent advances in social discounting},
  author={David William Pearce and Ben Groom and Cameron Hepburn and Phoebe Koundouri},
  journal={The World Economy},
  year={2003},
  volume={4}
}
The perplexing issue of discounting Prescriptive economics requires that, unless there are very good reasons to the contrary, economic policy should be based on the principle that individuals’ preferences should count. Indeed, the entire body of ‘ welfare economics’ centres round the formal identity of the statement “ X prefers A to B” and the statement “ X has higher welfare in A rather than B” . This combination of a seemingly innocuous and democratic value judgement— preferences should count… Expand

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