Tasa de descuento ambiental Gamma: una aplicación para Colombia

Tasa de descuento ambiental Gamma: una aplicación para Colombia

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The main purpose of this article is to describe and apply a methodology to estimate the discount rate on long-term projects, such as those related to environmental conservation and global climate change, for Colombia. The applied methodology is known as gamma discount. For the application of this me...

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Bibliographic Details
Main Author: Francisco Correa Restrepo
Format: Article
Language:English
Published: Universidad de Antioquia 2008-12-01
Series:Lecturas de Economía
Subjects:
discount rate
intertemporal preferences
environmental impacts
cost-benefit analysis
uncertainty.
Online Access:http://economicas.udea.edu.co/docs/publicaciones/LecturasEconomia/69/06.Revista141-162.pdf
Description
Summary:The main purpose of this article is to describe and apply a methodology to estimate the discount rate on long-term projects, such as those related to environmental conservation and global climate change, for Colombia. The applied methodology is known as gamma discount. For the application of this method, a survey of 120 Colombian economists was conducted. This yielded a much smaller discount rate than the social rate of discount typically used in the economic evaluation of domestic long-term projects. Additionally, the obtained estimations allow verifying the decline in time of such a discount rate.
ISSN:0120-2596

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