{"title":"农民家庭管理局的社会贴现率","authors":"R. Brent","doi":"10.1080/758520664","DOIUrl":null,"url":null,"abstract":"The aim was to estimate the SDR revealed by past decisions by the Farmers Home Administration (FmHA) concerning their farm-ownership programme in New York State. These decisions involved trading off a current loan against a long stream of future farm profits. The ratio of the coefficients to these two variables in a logit equation produced the estimate of the SDR. The main finding was that a very high rate of discount was uncovered, in the range 70–73%. These high rates may be explained by ‘individual risk’ and the life-cycle context in which the estimates were made.","PeriodicalId":185902,"journal":{"name":"Investment & Social Responsibility eJournal","volume":"35 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1989-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"8","resultStr":"{\"title\":\"The Farmers Home Administration's Social Discount Rate\",\"authors\":\"R. Brent\",\"doi\":\"10.1080/758520664\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The aim was to estimate the SDR revealed by past decisions by the Farmers Home Administration (FmHA) concerning their farm-ownership programme in New York State. These decisions involved trading off a current loan against a long stream of future farm profits. The ratio of the coefficients to these two variables in a logit equation produced the estimate of the SDR. The main finding was that a very high rate of discount was uncovered, in the range 70–73%. These high rates may be explained by ‘individual risk’ and the life-cycle context in which the estimates were made.\",\"PeriodicalId\":185902,\"journal\":{\"name\":\"Investment & Social Responsibility eJournal\",\"volume\":\"35 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1989-09-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"8\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Investment & Social Responsibility eJournal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1080/758520664\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Investment & Social Responsibility eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/758520664","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The Farmers Home Administration's Social Discount Rate
The aim was to estimate the SDR revealed by past decisions by the Farmers Home Administration (FmHA) concerning their farm-ownership programme in New York State. These decisions involved trading off a current loan against a long stream of future farm profits. The ratio of the coefficients to these two variables in a logit equation produced the estimate of the SDR. The main finding was that a very high rate of discount was uncovered, in the range 70–73%. These high rates may be explained by ‘individual risk’ and the life-cycle context in which the estimates were made.
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