Christian Gollier 
Ethical Asset Valuation and the Good Society [EPUB ebook] 

支持

For all of their focus on asset prices, financial economists rarely ask if assets are priced ethically—that is, if their prices are compatible with the public good. Yet in a world facing major, possibly catastrophic problems—global warming, for instance, and growing inequality—it is now more important than ever that we allocate capital to projects that will benefit society as a whole, not just today but far into the future. In this book, Christian Gollier develops a powerful method for transforming our societal goals of collective prosperity into the cornerstone of our financial decision making.
Ethical Asset Valuation and the Good Society starts by stating transparent moral principles and, from these, derives simple rules that can be used to evaluate saving and investment decisions in terms of the public good. Rather than trying to explain observed asset prices, Gollier derives what these prices ought to be in order to direct capital toward socially desirable investments. He focuses especially on the two prices that drive most financial decisions—the price of time as reflected in the interest rate and the price of risk—and explores the role these play in our long-term planning. If investment projects in renewable energy could be financed at a lower interest rate than those linked to fossil fuels, for instance, the energy transition would be easier to accomplish. Building on criticism of the short-term thinking of financial markets, Gollier suggests ways to shift investment toward the future through the discounting of the valuation of assets and investments with long-term benefits. In this sophisticated but accessible work, Gollier builds a bridge between welfare economics and finance theory to provide a framework for ethical valuation capable of establishing what asset prices should be on the basis of our shared moral values.

€29.99
支付方式

表中的内容

Acknowledgments
Introduction
1. Collective Aspirations
2. Choice and Measure of Values
3. Do We Do Enough for the Future?
4. Is The World Too Risky?
Conclusion
Technical Appendix
Notes
Bibliography
Index

关于作者

Christian Gollier is a professor at the Toulouse School of Economics and a visiting professor at Columbia University. He is the author of
The Economics of Risk and Time (2004) and
Pricing the Planet’s Future: The Economics of Discounting in an Uncertain World (2012) and a lead author of the fourth and fifth reports of the Intergovernmental Panel on Climate Change.

购买此电子书可免费获赠一本!
语言 英语 ● 格式 EPUB ● ISBN 9780231545921 ● 文件大小 0.6 MB ● 出版者 Columbia University Press ● 市 New York ● 国家 US ● 发布时间 2017 ● 下载 24 个月 ● 货币 EUR ● ID 5210208 ● 复制保护 Adobe DRM
需要具备DRM功能的电子书阅读器

来自同一作者的更多电子书 / 编辑

260,259 此类电子书