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The Dilemmas of Public Vs. Private Goods Discounting for Long-Term Investment Appraisal: The Puzzle of Citizen and Consumer Approaches to Valuation

Foltyn-Zarychta Monika ()
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Foltyn-Zarychta Monika: University of Economics in Katowice, College of Finance, Department of Investment, 1 Maja 50, 40-287Katowice, Poland

Folia Oeconomica Stetinensia, 2020, vol. 20, issue 2, 114-133

Abstract: Research background: An investment appraisal applies a single discount rate across all effects. However, this may be insufficient for heterogenous environmental impacts, mixing private and public goods as well as use and non-use values, where individuals may have multiple intertemporal preferences due to their duality to act as consumer or citizen.

Keywords: investment appraisal; valuation; discounting; citizen vs. consumer distinction (search for similar items in EconPapers)
JEL-codes: D15 D61 H43 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.2478/foli-2020-0039

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Handle: RePEc:vrs:foeste:v:20:y:2020:i:2:p:114-133:n:18