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Journals / Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi / 1984 / Sayı: 6

THE PUBLIC DISCOUNT RATE

Yaşar M. Geyikdağı
Necla V. Geyikdağı
Pages
57–63
Publication Date
1984-01-01
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

This paper strives to remedy this deficiency b> incorporating into the process the be-nefits that the private sector derives from the government plus the risk premium difference bet-vveen the public and private discount rates.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Previous studics which aimed at finding a public discount rate based on the opportunity cost concept and using the before - tax rate of retum in the pri-vate sector have not taken into account social costs and the risk premium difference betvveen the public and private sectors.
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Key Findings & Data:Previous studics which aimed at finding a public discount rate based on the opportunity cost concept and using the before - tax rate of retum in the pri-vate sector have not taken into account social costs and the risk premium difference betvveen the public and private sectors.
💡
Conclusion & Impact:This paper strives to remedy this deficiency b> incorporating into the process the be-nefits that the private sector derives from the government plus the risk premium difference bet-vveen the public and private discount rates.
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:THE PUBLIC DISCOUNT RATE · economics

Özet

Previous studics which aimed at finding a public discount rate based on the opportunity cost concept and using the before - tax rate of retum in the pri-vate sector have not taken into account social costs and the risk premium difference betvveen the public and private sectors. This paper strives to remedy this deficiency b> incorporating into the process the be-nefits that the private sector derives from the government plus the risk premium difference bet-vveen the public and private discount rates.

🔖

Cite This Article

Geyikdağı, Y. M., Geyikdağı, N. V. (1984). THE PUBLIC DISCOUNT RATE. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Sayı: 6, 57–63. https://ajindex.com/articles/119456

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References (8)

  1. Marglin, S.A. «The Social Rate of Discount and the Optimum Rate of Investment. Ouarterly Journal of Economlcs, February 1963, pp. 98-99.
  2. The argument against the use of myopic rates were first formulated by Pigou. A.C. (The Economlcs of VVelfare, London, 1932, pp. 23 - 30) and have been developed by Dobb, M. (An Essay on Economic Growth and Planning, London, 2 nd Ed., 1969, pp. 15 -16) and (On Optimising the Rate of Saving’, Economic Journal, Sen, A.K. September 1961, pp. 486-491).
  3. Hirshleifer, J., de Havcn, J„ and Milliman, J., Water Supply, Chicago. 1969, p. 117, and Baumol, WJ. On the Social Rate of Discoıınt, American Economic Review, December 1968, pp. 788 -802, and Stockfisch, J.A., The Interest Rate Applicable to Government Investment Projects, in Hin-riclıs, H., and Taylor, G., eds., Program Budgetlng and Benefit - Cost Analysis, Pacific Palisades, Califomia, 1969, pp. 187 - 201.
  4. Marglin, S.A., «The Opportunity Cost of Public Investment», Quarterly Journal of Economics, May 1963, pp. 274-89. For a detailed discussion see also Marglin, S.A., Public Investment Criteria: Benefit - Cost Analy-sls for Planned Economic Gro\vth, M.I.T. Press, Cambridge, Mass., 1967.
  5. Kapp, K.W., Social Costs of Privatc Enterprise, Asia Publishing House 1963.
  6. Marglin, S.A. «The Social Rate of Discount and the Optimum Rate of Investment. Ouarterly Journal of Economlcs, February 1963, pp. 98-99.
  7. The argument against the use of myopic rates were first formulated by Pigou. A.C. (The Economlcs of VVelfare, London, 1932, pp. 23 - 30) and have been developed by Dobb, M. (An Essay on Economic Growth and Planning, London, 2 nd Ed., 1969, pp. 15 -16) and (On Optimising the Rate of Saving’, Economic Journal, Sen, A.K. September 1961, pp. 486-491).
  8. Marglin, S.A., «The Opportunity Cost of Public Investment», Quarterly Journal of Economics, May 1963, pp. 274-89. For a detailed discussion see also Marglin, S.A., Public Investment Criteria: Benefit - Cost Analy-sls for Planned Economic Gro\vth, M.I.T. Press, Cambridge, Mass., 1967.