Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per capita in the distant future is zero (assuming that humans do not die out). Substituting in the Rams...

Drug, Improvement and Modernization Act of 2003, authorizes the implementation of the Medicare-Approved Drug Discount Card Program. This program is designed to help people in Medicare with the cost of prescription drugs. In the past several years as prescription drugs have increased, a number of Medicare beneficiaries have begun to use drug discount cards for outof-pocket expenditures. In the l...

This working note provides a basic overview of discounting in the context of climate change policy. After defining the social discount factor and social discount rate in terms of shadow prices (section 2), and noting the limitations of cost-benefit analysis for climate change (section 3), the determination of efficient social discount rates is discussed given: the impact of uncertainty about fu...

Demand Response (DR) programs show great promise for energy saving and load profile flattening. They bring about an opportunity indirect control of end-users’ demand based on different price policies. However, the difficulty in characterizing price-responsive behavior customers is a significant challenge towards optimal selection these This paper proposes Aggregator (DRA) transactive policy gen...

Answers how much to order when to order. Reduced price when item is purchased in larger quantities.The first model we will present is called the economic order quantity EOQ. We will discuss two types of quantity discount contracts: all units discounts and.buy the lowest total cost quantity, save the buyer money and, in some cases, receive more goods. quantity discount model example When we buy ...

BACKGROUND Increasing tobacco taxes to increase price is a proven tobacco control measure. This article investigates how smokers respond to tax and price increases in their choice of discount brand cigarettes versus premium brands. OBJECTIVE To estimate how increase in the tax rate can affect smokers' choice of discount brands versus premium brands. METHODS Using data from International Tob...

background : the present study aimed to provide better insight on methodological issues related to time preference studies, and to estimate private and social discount rates, using a rigorous systematic review and meta-analysis. methods : we searched pubmed, embase and proquest databases in june 2013. all studies had estimated private and social time preference rates for health outcomes through...

a r t i c l e i n f o Context: Price discounts are common retail promotional tools that are defined by their size and duration. Consumers possess a general schema in which they believe that retailers are motivated to associate larger price discounts with shorter durations and smaller price discounts with longer durations. However, factors influencing promotion management frequently lead retaile...

The assessment of investment projects by the net present value method presupposes that the discount rate and the project deadline are known. In literature, however, it is commonly accepted that generally the discount rate cannot be determined with sufficient accuracy. Moreover, the project deadline is generally subject to negotiations. In this paper, we develop a procedure for computing the pro...