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1

Time factor in economic valuation

Śleszyński J.

Ekonomia i Środowisko

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2014

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nr 4

36--45

EN

The paper demands for clear information about the date of implementation of valuation method and also for a more advanced representation of time in valuation studies focused on natural capital. The paper proposes a brief analysis of discounting in general and discusses selection of the discount rate in particular.

PL

Badania oceniające korzyści czerpane z ekosystemów są obecnie istotną częścią wszystkich badań poświęconych wycenie ekonomicznej. Zjawiskiem niepożądanym jest marginalizowanie czynnika czasu. W artykule skupiono uwagę na pasywnej jak i na aktywnej roli odgrywanej przez czynnik czasu w badaniach wyceny. Przedstawiono analizę dyskontowania, a w szczególności zwrócono uwagę na problem wyboru stopy dyskontowej

2

Discounting and ideas of intergenerational equity and sustainability

Rybicki W.

Operations Research and Decisions

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2012

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Vol. 22, No. 1

63--84

EN

Some aspects of discounting of infinite streams of economic quantities (consumption, saving, utility) are considered. The main points of the paper may be summarized as follows. The philosophy of discounting concerns methods of evaluation and/or comparison of multi-period phenomena and processes. The techniques applied (numerical, analytical) may equalize the gravity of subsequent generations or privilege certain generations rather than other ones. They can – to some extent – influence quality of life and the chances of survival in future generations. These (quite natural) connections between discounting and intergenerational justice and sustainability have been pointed out. Systems of axioms for “ethical” and “sustainable” preferences are presented, together with some related (sub)disciplines. Inspirations derived mainly from psychology suggest the modification of the geometric discounting paradigm by slowing down the convergence of discount factors to zero. It should be pointed out that such “heavy tailed” discounting has proved to be useful (and become strongly recommended) for evaluation of a variety of long-time horizon undertakings. Some examples of non-classical discounting rules are given. Finally, the author’s proposal of modeling the duration of the world as a Poisson random variable has been formulated.

3

Investment profitability evaluation on the basis of Life Cycle Cost (LCC) and Discount Method (NPV)

Dziaduch I.

Logistics and Transport

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2010

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Vol. 10, No. 1

19-24

EN

The initial thesis of this paper asserts that the present life cycle costs method is a sensitive instrument for investment profitability evaluation. To prove this thesis the analysis of life cycle cost as well as life cycle cost present value have been revealed. On this basis models have been formed which allow to estimate current value of forward life cycle costs which we will incurr to realize a particular enterprise.

4

Unreliability costs in Life Cycle Cost Analysis (LCCA) : comparison of calculation methods

Dziaduch I.

Journal of Polish Safety and Reliability Association

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2010

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Vol. 1, No. 1

75--82

EN

The paper describes aspects related to the reliability and its influence on life cycle cost analysis performance. The emphasis is on the unreliability costs, caused by failures, which are incurred over an entire object’s useful life. Later, there are characterized three methods, i.e. exponentially distributed failure rate, the determined failures frequency, and Weibull distributed failure rate, which allow to quantify the economic impact of the costs associated with reliability in the Life Cycle Cost Analysis. Applications of these approach to predict the unreliability costs of railbus electrical system are presented as well.