Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
4759852 | Journal of Forest Economics | 2017 | 8 Pages |
Abstract
The case is often now made that discount rates should decline with time. Underlying reasons include that some kinds benefit (or cost) might be discounted at a lower rate than that used for others: in particular, that rates for carbon values and environmental amenities might be less than that for timber. A lengthening sequence of rotations then arises, whether the benefits are consumptive ones realised at the rotation end, or non-consumptive ones whose annual value increases through the rotation. A timber discount rate lower than that for non-consumptive benefits leads to a shortening sequence of rotations. The results differ importantly from those of discounting all benefits and costs at a reducing rate through time.
Keywords
Related Topics
Life Sciences
Agricultural and Biological Sciences
Agronomy and Crop Science
Authors
Colin Price,