Purpose – The British government takes equity issues formally into account in its appraisal of social projects and policies. However, evidence on which the measured distributional welfare weights are based is neither broad enough nor sufficiently reliable. This paper seeks to address these...

Purpose – The British government takes equity issues formally into account in its appraisal of social projects and policies. However, evidence on which the measured distributional welfare weights are based is neither broad enough nor sufficiently reliable. This paper seeks to address these...

Purpose – The purpose of this paper is to examine uncertainty in the social discount rate and explore the conditions favouring the application of higher present value welfare weights in the cost‐benefit analysis (CBA) of very long‐term social projects. The plausibility, or otherwise, of...

Purpose – The purpose of this paper is to examine uncertainty in the social discount rate and explore the conditions favouring the application of higher present value welfare weights in the cost-benefit analysis (CBA) of very long-term social projects. The plausibility, or otherwise, of these...