Social Valuation of Projects (Classic Reprint): Harberger's Social Discount Rate and the Pricing of Risky Projects: Harberger's Social Discount Rate and the Pricing of Risky Projects (Classic Reprint) - Softcover

Inhaltsangabe

Understand how public projects are valued in a risky, tax-influenced world. This book explains Harberger's social discount rate and how risk and taxes shape the price of public investments.

This concise volume examines how governments should price and compare public projects when private returns and tax policies distort incentives. It presents a simple valuation rule that accounts for both tax effects and project risk, offering a clear approach for policymakers and analysts.

• How the social discount rate is formed and why it matters for public decisions


• How risk, via CAPM and certainty equivalents, changes project valuation


• When and how to use adjusted present value to separate project value from financing effects


• Practical guidance for applying the method to real-world public investments

Ideal for students and professionals in public finance, policy analysis, and economics who seek a solid, applicable framework for valuing risky public projects.

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