scholarly journals Discounting and Intergenerational Ethics

2021 ◽  
Author(s):  
Stéphane Zuber ◽  
Marc Fleurbaey
Keyword(s):  
Climate Policy ◽  
Ethical Issues ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Equal Treatment ◽  
Social Discounting ◽  
The Social ◽  
Utilitarian Approach ◽  
The Many ◽  
Intergenerational Ethics

The question of social discounting is central in intertemporal cost-benefit analysis that often shapes economists’ recommendations regarding climate policy. The practice of discounting has been the object of heated debates among economists and philosophers, revolving around the issue of intergenerational ethics. In this chapter, we review the different arguments for and against specific values of social discounting. We show that there are actually two different ethical issues at stake: 1) the question of impartiality (or equal treatment of all generations); 2) the question of priority to the worse-off (aversion to inequality in resources, capabilities or welfare). These questions have emerged in the utilitarian approach and can be neatly separated in that case. They also have very different consequences for climate policy. We then argue that the question of social discounting is not confined to the utilitarian framework as it more generally describes the social value of income (or capability or welfare) transfers to future generations. Lastly, we discuss the many limitations of social discounting as a tool for policy analysis.

Public Investment Criteria: Benefit-Cost Analysis for Planned Economic Growth by Stephen A. Marglin. London: George Allen & Unwin Ltd., 1967. pp.103. 22s. 6d.********** Investments for Capacity Expansion: Size, Location and Time-Phasing edited by Alan S. Manne. London: George Allen & Unwin Ltd., 1967. pp.239. 45s.Investments for Capacity Expansion: Size, Location and Time-Phasing edited by Alan S. Manne. London: George Allen & Unwin Ltd., 1967. pp.239. 45s.

1967 ◽  
Vol 7 (3) ◽  
pp. 416-420
Author(s):  
Arthur MacEwan
Keyword(s):  
Cost Benefit Analysis ◽  
Public Investment ◽  
Cost Benefit ◽  
Capacity Expansion ◽  
Point Of View ◽  
Systematic Analysis ◽  
Benefit Cost Analysis ◽  
The Government ◽  
The Many ◽  
Benefit Cost

These books are numbers 4 and 5, respectively, in the series "Studies in the Economic Development of India". The two books are interesting complements to one another, both being concerned with the analysis of projects within national plan formulation. However, they treat different sorts of problems and do so on very different levels. Marglin's Public Investment Criteria is a short treatise on the problems of cost-benefit analysis in an Indian type economy, i.e., a mixed economy in which the government accepts a large planning responsibility. The book, which is wholely theoretical, explains the many criteria needed for evaluation of projects. The work is aimed at beginning students and government officials with some training in economics. It is a clear and interesting "introduction to the special branch of economics that concerns itself with systematic analysis of investment alternatives from the point of view of a government".

scholarly journals MEASURING THE EFFICIENCY OF SOCIAL ENTREPRENEURSHIP

2020 ◽  
pp. 193-198
Author(s):  
A. N. Timokhovich ◽  
O. I. Nikuradze
Keyword(s):  
Social Entrepreneurship ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Social Value ◽  
Social Entrepreneurs ◽  
Long Term Effect ◽  
The Social ◽  
Common Problems ◽  
Definition Of

The problems of measuring the efficiency of social entrepreneurship have been affected. The aim of the study is to identify the most relevant methods for measuring social value and evaluating the effects that arise as a result of the activities of social organizations. Various interpretations of the definition of the term “social entrepreneurship” have been given in the article. The main elements of the process of social entrepreneurship, features of the goal setting and risks of activities in the study area have been emphasized. The stages of planning activities in the field of social entrepreneurship have been described. The most common problems of measurements and evaluation of social effects that social entrepreneurs have to deal with in the process of carrying out activities related to the implementation of social projects: difficulty in achieving a quantitative evaluation, difficulty in predicting the long-term effect of activities, limitations on costs, time resources, indicators of accuracy and interpretation of results have been revealed. Problems in forecasting the effectiveness of social projects have been identified. The main methods that can be used by social entrepreneurs and organizations for measuring the social value and assessing impact of ongoing activities (method of cost-benefit analysis, method of social accounting, method of social return on investment, method of analysis of the main resources of efficiency) have been analysed. Recommendations for social entrepreneurs have been formulated.

The Heroin Problem: Policy Alternatives in Dealing with Heroin Use

1974 ◽  
Vol 4 (1) ◽  
pp. 69-91 ◽  
Author(s):  
Robert E. Marks
Keyword(s):  
Methadone Maintenance ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Detailed Comparison ◽  
Therapeutic Communities ◽  
Heroin Use ◽  
Policy Alternatives ◽  
The Social ◽  
The Individual ◽  
Heroin Maintenance

The paper examines the social and private aspects of heroin use in the U.S. today and attempts to estimate the associated costs, both society's and the individual user's. Possible goals of any government policy are discussed. Twelve possible policy alternatives are examined, eight dealing with the demand for heroin, and four dealing with its supply. These alternatives are compared using a rough cost-benefit analysis in terms of costs and benefits to society at large. A more detailed comparison is made of therapeutic communities, methadone maintenance, and the British experience of prescription heroin maintenance as alternatives. The conclusion is reached that to minimize social cost while containing the spread of heroin usage a scheme of prescription heroin should be implemented; but if the spread of usage is seen as benign, the best policy is to sell the drug freely to any adult as alcohol is today.

The social valuation of income: a survey approach

2014 ◽  
Vol 41 (6) ◽  
pp. 808-820 ◽  
Author(s):  
David John Evans ◽  
Erhun Kula ◽  
Yoko Nagase
Keyword(s):  
Political Parties ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Statistical Testing ◽  
Survey Method ◽  
Benefit Analysis ◽  
Content Type ◽  
The Social ◽  
Social Valuation ◽  
Survey Approach

Purpose – The purpose of this paper is to estimate survey-based values of the elasticity of marginal social valuation of income, an important welfare parameter in cost-benefit analysis. Design/methodology/approach – A model relating equity welfare weights to income is developed, and iso-elasticity of marginal valuation of income is tested using survey data obtained from a sample of Turkish politicians who are instrumental in policy making. Findings – Based on the survey feedback, formal statistical testing indicates that Turkish politicians, regardless of party allegiance, reveal preferences consistent with an iso-elastic marginal social valuation of income. The estimated value of the elasticity measure is close to unity for each of the political parties. Originality/value – The originality of the paper is in terms of the survey method used to obtain from Turkish politicians estimates of the marginal social valuation of income. This welfare parameter is needed in the calculation of both social discount rates and welfare weights. The paper will be of interest to academics in the field of welfare economics as well as to practitioners involved in the appraisal of social projects and policies.

The Role of Science

2011 ◽  
Author(s):  
Gilles Saint-Paul
Keyword(s):  
Social Sciences ◽  
Population Distribution ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Social Planner ◽  
The Social ◽  
The Cost ◽  
Gains And Losses ◽  
Social Engineer

This chapter describes the social sciences. Unlike the natural sciences, the social sciences are inevitably statistical. When documenting human behavior, for example, they can at most claim that a trait is present in a certain fraction of the population. However, the social engineer of the paternalistic state must take into account that the “science of happiness” that is being implemented does not apply uniformly to all individuals. A policy that benefits some by preventing mistakes or removing their biases harms those who are immune to these issues. This difficulty, however, entirely disappears as long as the state is utilitarian or, more generally, pursues any objective that aggregates welfare between individuals, for the statistics are the only thing the utilitarian needs to know. Once the population distribution of the relevant effects and mechanisms is known, the social planner can safely use it to balance gains and losses across incarnations and perform the cost-benefit analysis of its policies.

Inclusion of Social Subsystem Issues in IT Investment Decisions

2011 ◽  
pp. 164-183
Author(s):  
Sherry D. Ryan ◽  
Michael S. Gates
Keyword(s):  
Survey Data ◽  
Decision Process ◽  
Cost Benefit Analysis ◽  
Investment Decisions ◽  
Cost Benefit ◽  
Decision Makers ◽  
Benefit Analysis ◽  
Analysis Model ◽  
Decision Criteria ◽  
The Social

Researchers have attempted to augment the traditional cost/benefit analysis model used in the IT decision process. However, frequently social subsystem issues are inadequately considered. Survey data, collected from a U.S. sample of 200 executives, provides an empirical assessment of how these issues compare with other IT decision criteria given differing decision types. The social subsystem issues considered most important by decision makers are also identified and the manner by which they consider these issues is investigated.

Environmental costs and their impact on the net present value of a hydro-electric project in Kerala, India

2003 ◽  
Vol 8 (2) ◽  
pp. 311-330 ◽  
Author(s):  
V. Santhakumar ◽  
Achin Chakraborty
Keyword(s):  
Net Present Value ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Environmental Costs ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Net Benefit ◽  
Pulp Industry ◽  
The Social ◽  
The Cost

This paper presents the operational procedures involved in incorporating the environmental costs in the cost–benefit analysis of a hydro-electric project. The proposed project, if implemented, would result in the loss of 2,800 hectares of tropical forests and dislocation of two settlements of about 200 families who are currently dependent on the forests for their livelihood. The forests are mainly used for extracting reed – a material used both by traditional artisans and the paper-pulp industry. The potential environmental costs and benefits of the project are identified and approximate estimates of some of these costs are made for items such as carbon sequestration, bio-diversity, and so on, based on similar estimates made elsewhere. These estimated environmental costs are incorporated into the analysis, and the hypothetical estimate of the non-use value, which would make the project's net benefit zero, is estimated under different discount rates. The analysis brings into sharp focus some crucial factors that have a direct bearing on the social trade-off involved in the project choice.

Cost-Benefit Analysis and Social Welfare Functions

2019 ◽  
pp. 397-422
Author(s):  
Matthew D. Adler
Keyword(s):  
Social Welfare ◽  
Policy Analysis ◽  
Moral Philosophy ◽  
Social Welfare Function ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Well Being ◽  
Benefit Analysis ◽  
Important Policy ◽  
The Social

This chapter describes and compares the two most important policy-analysis methodologies in economics: cost-benefit analysis (CBA) and the social-welfare-function (SWF) framework. Both approaches are consequentialist and welfarist; both are typically combined with a preference-based view of well-being. Despite these similarities, the two methodologies differ in significant ways. CBA translates well-being impacts into monetary equivalents, and ranks outcomes according to the sum total of monetary equivalents. By contrast, the SWF framework relies upon an interpersonally comparable measure of well-being. Each possible outcome is mapped onto a list (vector) of these well-being numbers, one for each person in the population; the ranking of outcomes, then, is driven by some rule (the SWF) for ranking these well-being vectors. The utilitarian SWF and the prioritarian family of SWFs (each corresponding to well-developed positions in moral philosophy) are especially plausible. The case for using CBA rather than one of these SWFs is weak—or so the chapter argues.

Overview of the Economic and Social Impacts of Gambling in the United States

2013 ◽  
pp. 107-128
Author(s):  
Douglas M. Walker
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
The United States ◽  
Social Impacts ◽  
Casino Gambling ◽  
Tax Revenue ◽  
Benefit Analysis ◽  
The Social ◽  
Economic And Social Impacts ◽  
Social Costs Of Gambling

This chapter provides an overview of empirical research on the economic and social impacts of gambling. Issues examined include the effects of casino gambling on economic growth; the relationships among gambling industries and the implications of these relationships on net government tax revenue; the social costs of gambling; casinos and crime; casinos and political corruption; and problems with cost-benefit analysis applied to gambling.

scholarly journals The social benefits of WEEE re-use schemes. A cost benefit analysis for PCs in Spain

2017 ◽  
Vol 64 ◽  
pp. 202-213 ◽  
Author(s):  
Xose Manuel González ◽  
Miguel Rodríguez ◽  
Yolanda Pena-Boquete
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Social Benefits ◽  
Benefit Analysis ◽  
The Social
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