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New Zealand Journal of Forestry (1986) 31(2): 22–25
©New Zealand Institute of Forestry

Research article
Discount rates and forestry decisions

J. Fitzsimons

Net Present Value analysis, also known as Cost-Benefit analysis, has serious deficiencies as a framework for decision-making in forestry. It is argued that high discount rates do not reflect true social time preferences and lead to resource waste and disregard for the future. The principles of sustainability, end-use needs, and cultural and spiritual values are suggested as more useful, and neglected, tools in planning projects with very long-term implications.
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