| 来源类型 | Article |
| 规范类型 | 其他 |
| DOI | 10.1016/0377-2217(89)90010-6 |
| Time preference and the life cycle: The logic of long-term high risk vs. short-term low risk. | |
| Ayres RU; Mori S | |
| 发表日期 | 1989 |
| 出处 | European Journal of Operational Research 38 (3): 329-349 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | This paper argues that time-preference functions (or ‘discount rates’) for R&D should properly be considered to be functions of the economic environment. In particular, during periods of accelerating growth and general increasing prosperity it is appropriate and rational to prefer a marginal dollar in the present to a marginal dollar in the future. Conversely, during periods of saturating growth and deteriorating prospects, the converse holds: it is rational to prefer a marginal dollar in the future to one in the present. Periods of increasing general prosperity — ‘rising tide’ — are likely to be associated with the early phases of an industry ‘life cycle’. Periods of declining prosperity, by contrast, may occur towards the end of the life cycle. |
| 主题 | Technology, Economy, Society (TES) |
| 关键词 | Allocation resources economics decision discount R& D |
| URL | http://pure.iiasa.ac.at/id/eprint/12632/ |
| 来源智库 | International Institute for Applied Systems Analysis (Austria) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/127048 |
| 推荐引用方式 GB/T 7714 | Ayres RU,Mori S. Time preference and the life cycle: The logic of long-term high risk vs. short-term low risk.. 1989. |
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