Accession Number:

ADA075224

Title:

Discounting and Fiscal Constraints: Why Discounting Is Always Right

Descriptive Note:

Professional paper

Corporate Author:

CENTER FOR NAVAL ANALYSES ALEXANDRIA VA INST OF NAVAL STUDIES

Personal Author(s):

• Thaler, R.

Report Date:

1979-08-01

Pagination or Media Count:

18.0

Abstract:

In a recent article Rolf Clark says, Instead of wondering whether defense managers should discount future costs, one should ask, Are defense managers fiscally constrained He concludes that under the existing institutional arrangements defense managers should not discount. In this paper the author argues that, even under the existing institutional arrangements, they most certainly should discount.

Descriptors:

• *FINANCE
• DECISION MAKING
• MANAGEMENT
• RATES
• COSTS
• BUDGETS
• MONEY

Subject Categories:

• Administration and Management
• Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE