A philosopher’s guide to discounting

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dc.contributor.authorMintz-Woo, Kian
dc.contributor.funderAustrian Science Funden
dc.date.accessioned2021-05-17T14:01:03Z
dc.date.available2021-05-17T14:01:03Z
dc.date.issued2021-04
dc.date.updated2021-05-14T11:57:05Z
dc.description.abstractThis chapter introduces several distinctions relevant to what is called the “discounting problem”, since the issue is how (future) costs and benefits are discounted to make them comparable in present terms. The author defends the claim that there are good reasons to adopt Ramsey-style discounting in the context of climate change: the Ramsey rule is robust, flexible, and well-understood. An important distinction involved in discounting—“descriptivism” and “prescriptivism”—is discussed. It is argued that, even if we adopt prescriptivism, and accept that this means there is need for moral experts in parameter assignments, there is a significant issue. The type of moral expertise required for the discounting problem will not involve knowledge of moral theory—thus making moral philosophy unhelpful in terms of making particular parameter assignments, despite these being substantive moral judgments.en
dc.description.sponsorshipAustrian Science Fund (FWF, under research grant W 1256-G15 (Doctoral Programme Climate Change Uncertainties, Thresholds and Coping Strategies)en
dc.description.statusPeer revieweden
dc.description.versionAccepted Versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.citationMintz-Woo, K. (2021) 'A Philosopher’s Guide to Discounting', in Budolfson, M., McPherson, T. and Plunkett, D. (eds)., Philosophy and Climate Change. Oxford: Oxford University Press. isbn: 9780198796282en
dc.identifier.doi10.1093/oso/9780198796282.003.0005en
dc.identifier.endpage19en
dc.identifier.isbn9780198796282
dc.identifier.isbn9780198796282
dc.identifier.startpage1en
dc.identifier.urihttps://hdl.handle.net/10468/11334
dc.language.isoenen
dc.publisherOxford University Pressen
dc.relation.ispartofPhilosophy and Climate Change
dc.relation.urihttps://oxford.universitypressscholarship.com/view/10.1093/oso/9780198796282.001.0001/oso-9780198796282-chapter-5
dc.rights© 2021. Reproduced by permission of Oxford University Press. This is an Accepted Manuscript of a book chapter published by Oxford University Press in Philosophy and Climate Change, April 2021, available online: https://oxford.universitypressscholarship.com/view/10.1093/oso/9780198796282.001.0001/oso-9780198796282-chapter-5en
dc.subjectRamsey Ruleen
dc.subjectClimate economicsen
dc.subjectCost-benefit analysisen
dc.subjectDiscountingen
dc.subjectEqualityen
dc.subjectEthicsen
dc.subjectMoral expertiseen
dc.subjectClimate changeen
dc.titleA philosopher’s guide to discountingen
dc.typeBook chapteren
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