Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.21/1408
Título: A multifactor approach to the social discount rate
Autor: Cruz Rambaud, Salvador
Muñoz Torrecillas, María José
Palavras-chave: Social discount rate
Multivariate hazard rate
Forest fires
Public and environmental projects
Data: Jul-2011
Resumo: This work focuses on the appraisal of public and environmental projects and, more specifically, on the calculation of the social discount rate (SDR) for this kind of very long-term investment projects. As a rule, we can state that the instantaneous discount rate must be equal to the hazard rate of the public good or to the mortality rate of the population that the project is intended to. The hazard can be due to technical failures of the system, but, in this paper, we are going to consider different independent variables that can cause the hazard. That is, we are going to consider a multivariate hazard rate. In our empirical application, the Spanish forest surface will be the system and the forest fire will be the fail that can be caused by several factors. The aim of this work is to integrate the different variables that produce the fail in the calculation of the SDR from a multivariate hazard rate approach.
Peer review: yes
URI: http://hdl.handle.net/10400.21/1408
Aparece nas colecções:ISCAL - Comunicações

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