Abstract
Whether the NPV, IRR or TV approach is adopted, a rate of discount (or rate of compound in the TV case) is required. There is a presumption that all benefits and costs, regardless of their nature, are to be discounted at the same rate, and that this rate is constant over time. Arguments can be advanced against both assumptions, but we proceed on this basis for the moment.
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© 1971 D. W. Pearce
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Pearce, D.W. (1971). The Social Rate of Discount. In: Cost-Benefit Analysis. Macmillan Studies in Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-01091-2_6
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DOI: https://doi.org/10.1007/978-1-349-01091-2_6
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-12063-7
Online ISBN: 978-1-349-01091-2
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