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For policies with long-run implications, the choice of how to discount future costs and benefits can have enormous significance. RFF research interests include how to best empirically determine the appropriate discount rate, whether it should decrease over time (hyperbolic discounting), and approaches to incorporating uncertainty and tail effects.

Discounting for Public Cost–Benefit Analysis

Learn how the discount rate is used in US cost–benefit analysis.

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Discounting in an Intergenerational Context

Read about discounting future benefits and costs.

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