IDEAS home Printed from https://ideas.repec.org/a/inm/ormnsc/v32y1986i9p1123-1139.html
   My bibliography  Save this article

Value Functions for Infinite-Period Planning

Author

Listed:
  • Charles M. Harvey

    (Dickinson College, Carlisle, Pennsylvania 17013 and International Institute for Applied Systems Analysis, Laxenburg, Austria)

Abstract

Cost-benefit and risk analysis studies that model tradeoffs between the present and the distant future by means of present value discounting have been criticized for according the future, and thus future generations, far too little importance. This paper presents an alternative means of modeling tradeoffs between different periods that accords the future far more importance than present value discounting, and that is no more difficult to apply. The paper also presents a means of modeling the preference issue of concern for equity or stability between different periods.

Suggested Citation

  • Charles M. Harvey, 1986. "Value Functions for Infinite-Period Planning," Management Science, INFORMS, vol. 32(9), pages 1123-1139, September.
    • Handle: RePEc:inm:ormnsc:v:32:y:1986:i:9:p:1123-1139
    DOI: 10.1287/mnsc.32.9.1123
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/mnsc.32.9.1123
    Download Restriction: no
    File URL: https://libkey.io/10.1287/mnsc.32.9.1123?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    decision analysis; discounting for time;

    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:inm:ormnsc:v:32:y:1986:i:9:p:1123-1139. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    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.