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Provides a simple framework to organize the debate on what we should do for the future. This title outlines the basic theory of the discount rate and the various arguments that favor using a smaller discount rate for more distant cash flows. It offers a suitable framework for dynamic problems and decision making.

Produktbeschreibung
Provides a simple framework to organize the debate on what we should do for the future. This title outlines the basic theory of the discount rate and the various arguments that favor using a smaller discount rate for more distant cash flows. It offers a suitable framework for dynamic problems and decision making.
Autorenporträt
Christian Gollier is professor of economics at the University of Toulouse and director of the Toulouse School of Economics. He is the author of The Economics of Risk and Time and the coauthor of Economic and Financial Decisions under Risk (Princeton).