@article{Kopp:10745,
      recid = {10745},
      author = {Kopp, Raymond J. and Portney, Paul R.},
      title = {Mock Referenda for Intergenerational Decision-making},
      address = {1997},
      number = {1318-2016-103149},
      series = {Discussion Paper 97-48},
      pages = {20},
      year = {1997},
      abstract = {Traditional applications of benefit-cost analysis make use  of what we refer to as the "damage function and  discounting" (or DFD) approach. This approach is  well-suited to the analysis of projects for which the  principal benefits and costs occur within the next thirty  to forty years, say. However, for projects with significant  intergenerational consequences--i.e., impacts that do not  arise for hundreds of years or more--the DFD approach  becomes almost intractable. We propose an alternative  conception of benefit-cost analysis for intergenerational  decision-making--the mock referendum--that is: (i) arguably  more consistent with the tenets of modern welfare  economics; (ii) more amenable to the analysis of long-term  projects or policies; and (iii) consistent with political  decision(s) that must be made if climate mitigation (or  other long-term environmental protection) measures are to  be taken.},
      url = {http://ageconsearch.umn.edu/record/10745},
      doi = {https://doi.org/10.22004/ag.econ.10745},
}