Copyright © 2013 by Princeton University Press

Published by Princeton University Press, 41 William Street, Princeton, New Jersey 08540

In the United Kingdom: Princeton University Press, 6 Oxford Street, Woodstock, Oxfordshire OX20 1TW

press.princeton.edu

Jacket Photograph: The 800-mile Alyeska oil pipeline crossing the tundra near the Brooks Range in interior Alaska.

© Ken Graham / AccentAlaska.com

All Rights Reserved

Library of Congress Cataloging-in-Publication Data

Gollier, Christian.

Pricing the planet’s future : the economics of discounting in an uncertain world / Christian Gollier.

p. cm.

Includes bibliographical references and index.

ISBN 978-0-691-14876-2 (hbk. : alk. paper) 1. Discount.

2. Investments—Social aspects. I. Title.

HG1651.G65 2013

332.8'4—dc23

2012017060

British Library Cataloging-in-Publication Data is available

This book has been composed in Times LT Std and Trade Gothic LT Std

Printed on acid-free paper. ∞

Printed in the United States of America

1 3 5 7 9 10 8 6 4 2