The effect of a constant or a declining discount rate on optimal investment timing

Gonzalo Edwards

Applied Economics Letters, 2003, vol. 10, issue 10, 657-659

Abstract: This paper shows that exponential discounting may have an advancing effect on the timing of investment, not captured by sensitivity analysis carried out for the complete range of instantaneous discount rates implicit in declining discounting.

Date: 2003
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Working Paper: The Effect of a Constant or a Declining Discount Rate on Optimal Investment Timing (2002)
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DOI: 10.1080/1350485032000129106

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