scholarly journals Building a Social Discount Rate to be Applied in US Afforestation Project Appraisal

Forests ◽  
2019 ◽  
Vol 10 (5) ◽  
pp. 445
Author(s):  
María José Muñoz Torrecillas ◽  
Julian Roche ◽  
Salvador Cruz Rambaud
Keyword(s):  
Discount Rate ◽  
Forest Fires ◽  
Hazard Rate ◽  
National Park ◽  
Discount Function ◽  
Project Appraisal ◽  
Different Types ◽  
The Usa ◽  
Rate Of Failure

This paper is focused on searching for the suitable discount rate to be applied to the valuation of a project related to forests in the USA, e.g., a recreational area inside a national park. To do this, we propose a new model based on hazard rate concepts, i.e., based on the risk that waiting time implies. More specifically, we derive the discount function whose instantaneous discount rate is the hazard rate of the system supporting the investment. We determine the rate of failure corresponding to different partition criteria of the whole system; in our case, we can use the information on forest fires caused in different ways, in different states or in different types of forest surfaces. After showing independence between the forest fires by states and causes, we derive a specific discount function for each cause which can be applied to every state or set of states which agree to fight against a concrete cause of forest fire. Additionally, we obtain a unique discount function by weighting the partial discount functions by type of forest surfaces. Our results are in line with the recommendations from several authors about using decreasing discount rates for projects with very long-term impacts.

A NEW ARGUMENT IN FAVOR OF HYPERBOLIC DISCOUNTING IN VERY LONG TERM PROJECT APPRAISAL

2014 ◽  
Vol 17 (08) ◽  
pp. 1450049 ◽  
Author(s):  
SALVADOR CRUZ RAMBAUD
Keyword(s):  
Discount Rate ◽  
Hyperbolic Discounting ◽  
Hazard Rates ◽  
Social Discount Rate ◽  
Discount Function ◽  
Distant Future ◽  
Limiting Behavior ◽  
Project Appraisal ◽  
Heavy Tailed

This paper characterizes the long term social discount rate (SDR) in terms of indices of variation and identifies a class of discount functions that assign weight to the distant future in terms of the asymptotes of their hazard rates. Let A(t) be a discount function supported on [0, +∞[, whose instantaneous discount rate is δ(t) = -( ln A(t))′. In this paper, we study the limiting behavior of δ(t) and a criterion to relate this limit to so-called long and heavy-tailed discount functions. Moreover, we study the discount functions of regular variation and, more specifically, the rapidly and the slowly-varying (singular) discount functions. In this way, the hyperbolic discounting exhibits long (and then heavy) tailedness, and it is intermediate between rapidly and the slowly-varying discount functions, which makes it a suitable function for long term discounting processes.

scholarly journals Influence of climatic conditions on fire risk in Djerdap National Park (Serbia): A case study of September 2011

2020 ◽  
Vol 24 (5 Part A) ◽  
pp. 2845-2855
Author(s):  
Stanimir Zivanovic ◽  
Ivana Tosic
Keyword(s):  
Forest Fires ◽  
National Park ◽  
Fire Risk ◽  
Daily Basis ◽  
Climatic Conditions ◽  
Average Value ◽  
Using Data ◽  
June July ◽  
The Impact

The Djerdap National Park in Serbia is vulnerable to fires. The variability of a fire in the Djerdap National Park is studied depending on the impact of climatic conditions. The influence was investigated on a yearly, monthly, and daily basis using data recorded at the meteorological station Veliko Gradiste. Data were analyzed for two periods: 1961-1990 and 1991-2017, and for the year of 2011. Special attention is devoted to the conditions for the emergence of the largest forest fire in the Djerdap National Park in September 2011. In this study, the Angstrom index, the Nesterov index, and method of deficit and surplus of precipitation are used to predict the risk of fire. There was an increased danger of fire in the forests in the period of 1991-2017 compared to the period of 1961-1990. Indices showing fire risk are increased for the months of June, July, and August. The September 2011 is characterized by an increase of average monthly air temperature by 3.7?C and a reduction of the total monthly rainfall of 32.3 mm compared to a long-term average value which favorable influenced to the occurrence of large forest fires.

Glavtransneft fixed assets: tanks

2020 ◽  
Vol 10 (5) ◽  
pp. 490-498
Author(s):  
Anatoly E. Soshchenko ◽  
◽  
Elena V. Shchurova ◽  
Boris N. Mastobaev ◽  
◽  
...  
Keyword(s):  
Pipeline System ◽  
Oil Pipeline ◽  
Tank Farm ◽  
Oil Transportation ◽  
Fixed Assets ◽  
Different Types ◽  
The Usa ◽  
Main Production ◽  
Main Oil Pipeline

The article presents a historical overview of one of the most important groups of fixed assets of the Main Production Office for Oil Transportation and Supply (Glavtransneft) – tanks. The main tendencies of tank construction development in the USSR and the USA in 1970–1990 are presented. The analysis of technical indicators and parameters of tank designs in our country and abroad was performed. The issues of ensuring reliable and safe operation of tanks of different types, as well as the directions of technological change in the field of long-term growth of the tank farm in the main oil pipeline system are considered.

scholarly journals Assessment of enterprises liabilities in application conditions of international financial reporting standards

2020 ◽  
pp. 45-56
Author(s):  
Valentina Kubik ◽  
Ruslan Volchek
Keyword(s):  
Discount Rate ◽  
Financial Reporting ◽  
Risk Premium ◽  
Balance Sheet ◽  
Fair Value ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Different Types

The article considers the peculiarities of accounting assessment of short-term and long-term liabilities of enterprises based on different types of current value. It is established that the IAS and Ukrainian Accounting Standards don’t quite clearly formulate the provisions regarding the assessment at which accounting items should be evaluated when recognized and reflected in the balance sheet. This negatively affects to the quality of the reports provided by enterprises and requires the development of methodologies that specify the application of different types of assessment of enterprises liabilities, depending on the purpose of assessment. The subject of research is the procedures for evaluation the value of the enterprise’s liabilities. The purpose of the article is to solve the problem of enterprises liabilities evaluation at the present stage of accounting development in the context of international financial reporting standards application in Ukraine. The research methods are general scientific, namely: abstraction and concretization – for providing recommendations regarding the correct determination of the fair value of enterprises’ liabilities. It is proved, that the choice of the evaluation type of liabilities depends on the time of their implementation and the results of business negotiations. Recommendations for the correct evaluation of liabilities and disclosure information about them in the financial statements are formulated. It is recommended to reflect in the order of enterprise accounting policy the criteria according to which the discount rate is selected for determining the present value of various types of long-term liabilities. It is expedient to substantiate the materiality of the rate deviation on long-term interest loans in accordance with the terms of the agreements and the market interest rate. Indicators that can be used to determine the risk premium when choosing the discount rate are specified.

Winter always comes: social enterprise in times of crisis

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rasheda Weaver ◽  
Chyanne Lanae Blakey
Keyword(s):  
Social Enterprise ◽  
Economic Recession ◽  
Social Enterprises ◽  
Future Research ◽  
Content Type ◽  
Societal Issues ◽  
Different Types ◽  
The Usa ◽  
Practical Implications

Purpose This study aims to outline the importance of distinguishing between different types of societal crises and the role that plays in how social enterprises may respond to crises at hand. Design/methodology/approach Previous literature is used to distinguish between various types of societal crises discussed in the study. Social enterprise responses to the COVID-19 pandemic, economic recession and the racial uprising in the USA that all erupted at the start of the 2020 decade are explored to illustrate the need for different responses to each. Findings The origin and manifestation of crises differ in that they may have public health, natural, economic or even intentionally man-made origins. In addition, in times of crisis, social enterprises must be prepared to innovate, adapt or at least manage the effects of one or more crises on their organizations. These innovations may be social, technology or economic innovations. Research limitations/implications This study contributes to knowledge about the role and value of social enterprise as a tool for addressing societal issues. The three types of crises explored in this paper will likely reoccur and evolve to manifest in new ways. As such, it is imperative that research on the efficacy of social enterprises during times of crisis are conducted to inform practice, policy and future research. Practical implications This study aims to inform and encourage institutions, particularly social enterprises, to recognize that “winter always comes.” Crises always happen in life and how organizations respond to such crises will differ based on the type of crisis at hand. This study particularly contributes to knowledge by emphasizing the need for social enterprises to think about both economic uncertainty and the role they play in addressing crises in the long-term, not just when they occur. Originality/value To the best of the authors’ knowledge, this study is one of the first to explore the role and value of social enterprises as a tool for combatting major social crises such as racism, pandemics and recessions.

scholarly journals Modelling of forest fires time evolution in the USA on the basis of long term variations and dynamics of the temperature of the solar wind protons

2015 ◽  
Vol 19 (suppl. 2) ◽  
pp. 437-444 ◽  
Author(s):  
Milan Radovanovic ◽  
Yaroslav Vyklyuk ◽  
Slavica Malinovic-Milicevic ◽  
Dejana Jakovljevic ◽  
Milovan Pecelj
Keyword(s):  
Time Series ◽  
Forest Fires ◽  
The Sun ◽  
The Usa ◽  
Self Similar ◽  
Hybrid Neural Networks ◽  
Causative Link ◽  
Long Term Variations

The work examines the potential causative link between the flow of protons, i.e. temperature of the particles that are coming from the sun and forest fires in the USA. For determination of the degree of randomness for time series of input (temperature of protons) and output parameters (number of forest fires), the R/S analysis is conducted. The analysis of fractal dimension provides us an opportunity to compare self-similar processes in the influx of protons and the time series of forest fires flashes. Therefore we developed and conducted the sensitivity analysis of model based on hybrid neural networks ANFIS. As the calculations showed, only 16% of the real forest flashes cannot be predicted by the model.

Understanding and preserving caves and karst landscapes

2017 ◽  
Vol 36 (2) ◽  
pp. 318-336
Author(s):  
Dale L. Pate ◽  
Ronal C. Kerbo
Keyword(s):  
National Park ◽  
National Park Service ◽  
Educational Opportunities ◽  
Resource Managers ◽  
Different Types ◽  
Park Service ◽  
Karst Landscapes ◽  
The Many ◽  
Long Term Preservation

ABSTRACT Beginning in 1903 with the creation of Wind Cave National Park, ten National Park Service units have been created because of the caves they contained. Since the establishment of the National Park Service in 1916, over 5,360 caves are known to exist within at least 99 park units. These caves are found in different types of rocks and were formed by several different mechanisms. The most prolific landscapes that have formed caves are those in soluble rocks such as limestone. Known as karst landscapes, at least 114 park units contain some amount of karst. In the early days, cave parks were developed for their commercial and recreational values. Little was known of the processes that created caves or the many resources that encompassed these entire landscapes. With the help of cave and karst enthusiasts and researchers, and the advent of cave and karst resource managers, the National Park Service has made great strides in understanding these resources. This has led to increased educational opportunities and better management decisions that will enhance long-term preservation of these resources.

The Acute Effect of Alcohol on Various Memory Processes

2010 ◽  
Vol 24 (4) ◽  
pp. 249-252 ◽  
Author(s):  
Márk Molnár ◽  
Roland Boha ◽  
Balázs Czigler ◽  
Zsófia Anna Gaál
Keyword(s):  
Low Dose ◽  
Short Term Memory ◽  
Acute Effect ◽  
Long Term Memory ◽  
Term Memory ◽  
Memory Processes ◽  
Different Types ◽  
The Brain ◽  
Legal Consequences

This review surveys relevant and recent data of the pertinent literature regarding the acute effect of alcohol on various kinds of memory processes with special emphasis on working memory. The characteristics of different types of long-term memory (LTM) and short-term memory (STM) processes are summarized with an attempt to relate these to various structures in the brain. LTM is typically impaired by chronic alcohol intake but according to some data a single dose of ethanol may have long lasting effects if administered at a critically important age. The most commonly seen deleterious acute effect of alcohol to STM appears following large doses of ethanol in conditions of “binge drinking” causing the “blackout” phenomenon. However, with the application of various techniques and well-structured behavioral paradigms it is possible to detect, albeit occasionally, subtle changes of cognitive processes even as a result of a low dose of alcohol. These data may be important for the consideration of legal consequences of low-dose ethanol intake in conditions such as driving, etc.

Sign in / Sign up

Export Citation Format

Share Document