IDEAS home Printed from https://ideas.repec.org/a/eee/joepsy/v27y2006i5p667-680.html
   My bibliography  Save this article

Valuing future life and future lives: A framework for understanding discounting

Author

Listed:
  • Frederick, Shane

Abstract

No abstract is available for this item.

Suggested Citation

  • Frederick, Shane, 2006. "Valuing future life and future lives: A framework for understanding discounting," Journal of Economic Psychology, Elsevier, vol. 27(5), pages 667-680, October.
    • Handle: RePEc:eee:joepsy:v:27:y:2006:i:5:p:667-680
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0167-4870(06)00051-1
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hogarth, Robin M. (ed.), 1990. "Insights in Decision Making," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226348551, December.
    2. William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39, April.
    3. Murray Krahn & Allan S. Detsky, 1993. "Should Canada and the United States Universally Vaccinate Infants against Hepatitis B?," Medical Decision Making, , vol. 13(1), pages 4-20, February.
    4. Gordon Tullock, 1964. "The Social Rate of Discount and the Optimal Rate of Investment: Comment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 78(2), pages 331-336.
    5. Barnum, Howard, 1987. "Evaluating healthy days of life gained from health projects," Social Science & Medicine, Elsevier, vol. 24(10), pages 833-841, January.
    6. Lind, Robert C., 1990. "Reassessing the government's discount rate policy in light of new theory and data in a world economy with a high degree of capital mobility," Journal of Environmental Economics and Management, Elsevier, vol. 18(2), pages 8-28, March.
    7. R. M. Solow, 1974. "Intergenerational Equity and Exhaustible Resources," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 29-45.
    8. Loewenstein, George, 1987. "Anticipation and the Valuation of Delayed Consumption," Economic Journal, Royal Economic Society, vol. 97(387), pages 666-684, September.
    9. Lyon, Randolph M., 1990. "Federal discount rate policy, the shadow price of capital, and challenges for reforms," Journal of Environmental Economics and Management, Elsevier, vol. 18(2), pages 29-50, March.
    10. Emmett B. Keeler & Shan Cretin, 1983. "Discounting of Life-Saving and Other Nonmonetary Effects," Management Science, INFORMS, vol. 29(3), pages 300-306, March.
    11. Stephen A. Marglin, 1963. "The Social Rate of Discount and The Optimal Rate of Investment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 77(1), pages 95-111.
    12. Daniel Kahneman & Peter P. Wakker & Rakesh Sarin, 1997. "Back to Bentham? Explorations of Experienced Utility," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 375-406.
    13. Goodin, Robert E., 1982. "Discounting Discounting," Journal of Public Policy, Cambridge University Press, vol. 2(1), pages 53-71, February.
    14. Theodore G. Ganiats & Jonathan B.C. Humphrey & Howard L. Taras & Robert M. Kaplan, 1991. "Routine Neonatal Circumcision," Medical Decision Making, , vol. 11(4), pages 282-292, December.
    15. Schelling, Thomas C, 1995. "Intergenerational discounting," Energy Policy, Elsevier, vol. 23(4-5), pages 395-401.
    16. Moore, Michael J & Viscusi, W Kip, 1990. "Models for Estimating Discount Rates for Long-term Health Risks Using Labor Market Data," Journal of Risk and Uncertainty, Springer, vol. 3(4), pages 381-401, December.
    17. Cropper, Maureen L & Aydede, Sema K & Portney, Paul R, 1992. "Rates of Time Preference for Saving Lives," American Economic Review, American Economic Association, vol. 82(2), pages 469-472, May.
    18. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
    19. Jevons, William Stanley, 1871. "The Theory of Political Economy," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number jevons1871.
    20. Burton Peter S., 1993. "Intertemporal Preferences and Intergenerational Equity Considerations in Optimal Resource Harvesting," Journal of Environmental Economics and Management, Elsevier, vol. 24(2), pages 119-132, March.
    21. Otto Eckstein, 1957. "Investment Criteria for Economic Development and the Theory of Intertemporal Welfare Economics," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 71(1), pages 56-85.
    22. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August.
    23. Frederick, Shane, 2003. "Measuring Intergenerational Time Preference: Are Future Lives Valued Less?," Journal of Risk and Uncertainty, Springer, vol. 26(1), pages 39-53, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. David Blake & John Pickles, 2021. "Mental Time Travel and Retirement Savings," JRFM, MDPI, vol. 14(12), pages 1-13, December.
    2. Anna Alberini & Stefania Tonin & Margherita Turvani, 2009. "Rates of Time Preferences for Saving Lives in the Hazardous Waste Site Context," Working Papers 2009.3, Fondazione Eni Enrico Mattei.
    3. Lydia Lawless & Andreas Drichoutis & Rodolfo Nayga, 2013. "Time preferences and health behaviour: a review," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 1(1), pages 1-19, December.
    4. Michael Spackman, 2013. "Government Time Discounting and Required Rates of Return: UK History and Current Issues," Economic Affairs, Wiley Blackwell, vol. 33(2), pages 190-206, June.
    5. Morrissey, J. & Meyrick, B. & Sivaraman, D. & Horne, R.E. & Berry, M., 2013. "Cost-benefit assessment of energy efficiency investments: Accounting for future resources, savings and risks in the Australian residential sector," Energy Policy, Elsevier, vol. 54(C), pages 148-159.
    6. de La Bruslerie, Hubert & Pratlong, Florent, 2012. "La valeur psychologique du temps : une synthèse de la littérature," L'Actualité Economique, Société Canadienne de Science Economique, vol. 88(3), pages 361-400, Septembre.
    7. Seth Baum & William Easterling, 2010. "Space-time discounting in climate change adaptation," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 15(6), pages 591-609, August.
    8. Dina M. Abdelzaher & Aleksey Martynov, 2023. "The impact of countries' culture norms and innovations on their adaptive capacity to climate change," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(3), pages 1433-1443, June.
    9. Kym Irving, 2009. "Overcoming Short-Termism: Mental Time Travel, Delayed Gratification and How Not to Discount the Future," Australian Accounting Review, CPA Australia, vol. 19(4), pages 278-294, December.
    10. Felix Chopra & Armin Falk & Thomas Graeber, 2024. "Intertemporal Altruism," American Economic Journal: Microeconomics, American Economic Association, vol. 16(1), pages 329-357, February.
    11. Breuer, Wolfgang & Soypak, K. Can, 2015. "Framing effects in intertemporal choice tasks and financial implications," Journal of Economic Psychology, Elsevier, vol. 51(C), pages 152-167.
    12. Jason G. Matheny, 2007. "Reducing the Risk of Human Extinction," Risk Analysis, John Wiley & Sons, vol. 27(5), pages 1335-1344, October.
    13. Márta Somogyvári, 2018. "Ethical Aspects of Intertemporal Discounting and the Social Discount Rate," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 17(3), pages 109-132.
    14. Claude Montmarquette & Iain Scott, 2007. "Taux d'actualisation pour l'évaluation des investissements publics au Québec," CIRANO Project Reports 2007rp-02, CIRANO.
    15. Louise S. L. Teh & Lydia C. L. Teh & U. Rashid Sumaila, 2011. "Low Discounting Behavior among Small-Scale Fishers in Fiji and Sabah, Malaysia," Sustainability, MDPI, vol. 3(6), pages 1-17, June.
    16. Michael Spackman, 2017. "Social discounting: the SOC/STP divide," GRI Working Papers 182, Grantham Research Institute on Climate Change and the Environment.
    17. repec:dau:papers:123456789/3033 is not listed on IDEAS
    18. Ana Bobinac & Werner Brouwer & Job van Exel, 2011. "Discounting future health gains: an empirical enquiry into the influence of growing life expectancy," Health Economics, John Wiley & Sons, Ltd., vol. 20(1), pages 111-119, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Preston Greene, 2024. "Social bias, not time bias," Politics, Philosophy & Economics, , vol. 23(1), pages 100-121, February.
    2. Norman Henderson & Ian Bateman, 1995. "Empirical and public choice evidence for hyperbolic social discount rates and the implications for intergenerational discounting," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 5(4), pages 413-423, June.
    3. Mareike Schad & Jürgen John, 2012. "Towards a social discount rate for the economic evaluation of health technologies in Germany: an exploratory analysis," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 13(2), pages 127-144, April.
    4. Sumaila, Ussif R. & Walters, Carl, 2005. "Intergenerational discounting: a new intuitive approach," Ecological Economics, Elsevier, vol. 52(2), pages 135-142, January.
    5. Senik, Claudia, 2008. "Is man doomed to progress?," Journal of Economic Behavior & Organization, Elsevier, vol. 68(1), pages 140-152, October.
    6. Klaus Wälde & Agnes Moors, 2016. "Current Emotion Research in Economics," Working Papers 1612, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz.
    7. Katrina Forrester, 2018. "The problem of the future in postwar Anglo-American political philosophy," Climatic Change, Springer, vol. 151(1), pages 55-66, November.
    8. Claudia Senik, 2007. "Is man doomed to progress?," Working Papers halshs-00590519, HAL.
    9. Andrew Caplin & John Leahy, 2004. "The Social Discount Rate," Journal of Political Economy, University of Chicago Press, vol. 112(6), pages 1257-1268, December.
    10. Davidson, Marc D., 2014. "Zero discounting can compensate future generations for climate damage," Ecological Economics, Elsevier, vol. 105(C), pages 40-47.
    11. Price, Colin, 2010. "Low discount rates and insignificant environmental values," Ecological Economics, Elsevier, vol. 69(10), pages 1895-1903, August.
    12. Norman Henderson & Ian Langford, 1998. "Cross-Disciplinary Evidence for Hyperbolic Social Discount Rates," Management Science, INFORMS, vol. 44(11-Part-1), pages 1493-1500, November.
    13. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
    14. Jeffery L. Guyse & L. Robin Keller & Candice H. Huynh, 2020. "Valuing Sequences of Lives Lost or Saved Over Time: Preference for Uniform Sequences," Decision Analysis, INFORMS, vol. 17(1), pages 24-38, March.
    15. Manel Baucells & Silvia Bellezza, 2017. "Temporal Profiles of Instant Utility During Anticipation, Event, and Recall," Management Science, INFORMS, vol. 63(3), pages 729-748, March.
    16. Pavlo R. Blavatskyy, 2023. "Intertemporal choice with savoring of yesterday," Theory and Decision, Springer, vol. 94(3), pages 539-554, April.
    17. Li, Qingran & Pizer, William A., 2021. "Use of the consumption discount rate for public policy over the distant future," Journal of Environmental Economics and Management, Elsevier, vol. 107(C).
    18. Arthur E. Attema & Han Bleichrodt & Olivier L’Haridon & Patrick Peretti-Watel & Valérie Seror, 2018. "Discounting health and money: New evidence using a more robust method," Journal of Risk and Uncertainty, Springer, vol. 56(2), pages 117-140, April.
    19. Maik T. Schneider & Christian Traeger & Ralph Winkler, 2010. "Trading Off Generations: Infinitely-Lived Agent Versus OLG," CER-ETH Economics working paper series 10/128, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    20. Voinov, Alexey & Farley, Joshua, 2007. "Reconciling sustainability, systems theory and discounting," Ecological Economics, Elsevier, vol. 63(1), pages 104-113, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joepsy:v:27:y:2006:i:5:p:667-680. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/joep .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.