:contingent claims (CC) with risk neutral valuation and dynamic programming (DP) using a constant risk adjusted discount rate … (such as futures prices) that allow the estimation of the market price of risk or convenience yield. Even when such data do … the prices of different sources of risk …

Because of risk aversion, any sensible investment valuation system should value less Projects that contribute more to … the aggregate risk, i.e., that have a larger income elasticity of net benefits. In theory, this is done by adjusting … public and private institutions and people use a discount rate that is rather insensitive to the risk profile of their …