Discounting and Fiscal Constraints: Why Discounting Is Always Right
Abstract
In a recent article Rolf Clark says, 'Instead of wondering whether defense managers should discount future costs, one should ask, 'Are defense managers fiscally constrained?' He concludes that under the existing institutional arrangements defense managers should not discount. In this paper the author argues that, even under the existing institutional arrangements, they most certainly should discount.
Document Details
- Document Type
- Technical Report
- Publication Date
- Aug 01, 1979
- Accession Number
- ADA075224
Entities
People
- R. Thaler
Organizations
- Center for Naval Analyses