Phoebe Koundouri
Phoebe Koundouri (PhD, MPhil,
BA) is a Lecturer in the Department
of Economics, University of Reading,
UK and a Senior Research Fellow in
the Department of Economics/
CSERGE, University College
London. She obtained her PhD from
the Department of Economics,
University of Cambridge. She has
published articles in various academic
journals and books, in the area of
environmental and resource
economics, as well as in the broader
area of theoretical and applied
microeconomics. She has recently coedited
a book on The Economics of
Water Management in Developing
Countries. She has acted as an
economic advisor to various
international organisations, such as
the World Bank, the World Health
Organisation and the European
Commission, and has given lectures
throughout the world.
Papers Published in World Economics:
Valuing the Future
One of the most controversial areas of economics is the practice of discounting:
attaching a lower weight to future costs and benefits than present costs and
benefits. Discounting appears to offend notions of sustainable development and
the interests of future generations. Recent advances in the theory of discounting
hold out strong hope that the ‘tyranny of discounting’ can be avoided through the
use of time varying discount rates (TVDRs). This paper reviews the recent
rationales for TVDRs and applies the results to issues such as nuclear power and
global warming control.
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