based on the consideration of uncertainty, both for discount rates derived from social welfare functions, and for those …

Ramsey formula, uncertainty about the future rate of growth in per capita consumption can lead to a declining consumption … rate of discount, assuming that shocks to consumption are positively correlated. This uncertainty in future consumption … uncertainty about the mean rate of growth in mean consumption or its volatility. Determining the remaining parameters of the …

attention to the social discount rate and how to treat uncertainty at both the project and economy-wide levels. There follows an …

Uncertainty has an almost negligible impact on project value in the economic standard model. I show that a … comprehensive evaluation of uncertainty and uncertainty attitude changes this picture fundamentally. The analysis relies on the … and with respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic …

differences between the two rates. In addition, we indicate that uncertainty about underlying ethical parameters or market …