The aim of this paper is to present an alternative methodology for discounting far distant future externalities genereted by an investment project: time-declining discount rates. First I present the experimental evidence on individuals' time-inconsistency. Second I consider the theoretical...

The aim of this paper is to present an alternative methodology for discounting far distant future externalities generated by an investment project; time-declining discount rates. First I present the experimental evidence on Individuals' time-inconsistency. Second I consider the theoretical...

The relationship between climate warming and associated socio-economic development is a central question for environmental economists and social scientists. The scientific literature focusing on the economic effects of climate change is mainly based on the cross-sectional impact of temperature...