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Social Valuation of Projects: Harberger's Social Discount Rate and the Pricing of Risky Projects. E-book. Formato PDF
Thierry F. Bollier
edizioni Forgotten Books collana , 2017
The purpose of the current paper is to derive a simple valuation rule that takes into account both the tax distortions and project-risk considerations. The analysis will show that Bailey and Jensen's solution is wrong. The main result is that the tax distortions might lead to define a hurdle rate for certainty equivalent...