Social discounting: the SOC/STP divide

Working paper by Michael Spackman on 10 Feb 2017

More than 50 years of social discounting literature have not delivered satisfactory academic guidance to government practitioners. Users of the social opportunity cost (SOC) paradigm do not always appreciate that … read more »

Appropriate time discounting in the public sector

Working paper by Michael Spackman on 15 Mar 2016

A substantial literature of social discounting has now extended over more than 50 years, but practical approaches in developed economies and international bodies continue to vary widely. This is sometimes … read more »

The climate beta

Working paper by Simon Dietz, Louise Kessler, Christian Gollier on 15 Apr 2015

This paper examines the question of whether fighting climate change has the additional advantage of reducing the aggregate risk borne by future generations. This raises the question of the ‘climate beta’, i.e. the elasticity of climate damages with respect to a change in aggregate consumption. read more »