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Nachhaltigkeitskonforme Diskontierung: das Konzept des "Generation Adjusted Discounting"

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  • Stefan Bayer

Abstract

Discounting is crucial for determining the efficiency of policy programmes. However, it has been criticized that discounting prevents sustainable development. It could only be reached if we refrained from discounting entirely. However, the second pillar of sustainable development is not seriously considered for: The needs of currently living generations. We analyze whether there exists a discounting method which is in accordance with sustainability criteria within a utilitarian framework. The Generation Adjusted Discounting (GAD) method is derived and its implications with respect to sustainability are shown. The paper stresses that the GAD is favourable, compared to conventional discounting as well as to not discounting at all, in terms of efficiency and sustainability. Subsequently living generations are then treated equally - a basic condition in a utilitarian framework. Sustainability can be measured by calculating the discount rate differences between (implicit) GAD and conventional discounting. Die Diskontierung ist von zentraler Bedeutung bei der Beurteilung der Effizienz staatlicher Vorhaben. Ihre Anwendung ruft aber auch Kritiker auf den Plan, da sie das Einschwenken auf einen nachhaltigen Wachstumspfad verhindere. Sie plädieren deshalb für den Verzicht auf Diskontierung. Dies steht jedoch im Widerspruch zur zweiten Nachhaltigkeitsbedingung - der Berücksichtigung der Bedürfnisse heute lebender Generationen -, da bei Nichtdiskontierung Opportunitätskosten vernachlässigtwürden. Daraus leitet sich die Frage ab, ob es eine nachhaltigkeitskonforme Diskontierung geben kann und wie sie methodisch verfahren sollte. Mit dem"Generation Adjusted Discounting" (GAD) wird ein solches Verfahren für langfristige, mehrere Generationen betreffende Projekte entwickelt. Es wird gezeigt, dass das GAD eine wesentliche Bedingung für die intertemporale - dem Utilitarismus entstammende - Gleichbehandlung und somit für die Erreichung von Nachhaltigkeitszielen darstellt. Eine Nachhaltigkeitsmessung bei Nutzen-Kosten-Analysen kann dann in Form von Diskontratendifferenzen zwischen (implizitem) GAD und der konventionellenDiskontierung erfolgen.

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  • Stefan Bayer, 2004. "Nachhaltigkeitskonforme Diskontierung: das Konzept des "Generation Adjusted Discounting"," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 73(1), pages 142-157.
    • Handle: RePEc:diw:diwvjh:73-10-10
    DOI: 10.3790/vjh.73.1.142
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    References listed on IDEAS

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    1. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
    2. Stefan Bayer, 2003. "Generation-adjusted discounting in long-term decision-making," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 6(1), pages 1133-1149.
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    1. Hahn, W. Andreas & Härtl, Fabian & Irland, Lloyd C. & Kohler, Christoph & Moshammer, Ralf & Knoke, Thomas, 2014. "Financially optimized management planning under risk aversion results in even-flow sustained timber yield," Forest Policy and Economics, Elsevier, vol. 42(C), pages 30-41.
    2. Stefan Bayer & Jacques Méry, 2009. "Sustainability gaps in municipal solid waste management: a case study for landfills," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 11(1), pages 43-69, February.

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