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 Research Projects at the MPIfG

Discounting Politics: Economic Valuation in the Absence of the Price Mechanism

Mikell Hyman


 
Recent years have seen a proliferation of sociological research on markets, unearthing the cultural, social structural, socio-technical, and political underpinnings of price. However, more work is necessary to understand how valuation occurs in the absence of the price mechanism. This question is particularly important in contexts – ranging from capital budgeting to climate change policy – characterized by a temporal delay between human action and the resultant costs and benefits of those actions. This project seeks to contribute to knowledge on this topic by tracing academic and occupational debates about discount rates, a seemingly small assumption with big consequences. Project duration: October 2018 to September 2020.
 

 
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