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Papers by Erhun İbrahim Kula
Project Appraisal
The social interest rate (SIR) is an important parameter in project appraisal in public sector ec... more The social interest rate (SIR) is an important parameter in project appraisal in public sector economics. In this article a SIR is derived for the United Kingdom, the United States and Canada on the basis of an individualistic and two-period consumption utility function. The model yields an operational formula the component parameters of which are: a mortality based pure time discount rate; the growth rate of per capita consumption, in real terms; and the elasticity of marginal utility of consumption. The final results are: the United Kingdom 2.6%, the United States 5.3% and Canada 5.4%.
Journal of Interdisciplinary Economics
Journal of Interdisciplinary Economics
Journal of Interdisciplinary Economics
Departmental Working Papers, Nov 1, 2006
ABSTRACT Incluye bibliografía e índice
HISTORY OF ENVIRONMENTAL ECONOMIC THOUGHT This volume presents the ideas of major figures in econ... more HISTORY OF ENVIRONMENTAL ECONOMIC THOUGHT This volume presents the ideas of major figures in economics throughout history on key environmental issues such as population growth, resource scarcity and environmental contamination. Discussion begins with the ...
Bellinger's attempt to expand the scope of the modified discounting method (MDM) to incl... more Bellinger's attempt to expand the scope of the modified discounting method (MDM) to include private sector projects that create intergenerational externalities is welcome. Indeed, many such projects affect future generations, especially through resource depletion and environmental contamination. However, the philosophical foundation of the MDM, which borrows from the Rawlsian doctrine, has not been given clear interpretation by Bellinger. This paper tries to clarify the issue and also answers a number of questions raised by Bellinger and others.
The Journal of Development Studies, Nov 23, 2007
In this article a Social Interest Rate (SIR) is derived for Trinidad and Tobago on the basis of a... more In this article a Social Interest Rate (SIR) is derived for Trinidad and Tobago on the basis of an individualistic, independent and multi‐period consumption utility function. The component parameters of this rate are: a mortality‐based pure time discount rate, the growth rate of per capita real consumption and the elasticity of marginal utility of consumption. The final result is 6.2
Journal of Interdisciplinary Economics, 2003
Journal of Economic Studies, 2014
Purpose – The purpose of this paper is to estimate survey-based values of the elasticity of margi... more Purpose – The purpose of this paper is to estimate survey-based values of the elasticity of marginal social valuation of income, an important welfare parameter in cost-benefit analysis. Design/methodology/approach – A model relating equity welfare weights to income is developed, and iso-elasticity of marginal valuation of income is tested using survey data obtained from a sample of Turkish politicians who are instrumental in policy making. Findings – Based on the survey feedback, formal statistical testing indicates that Turkish politicians, regardless of party allegiance, reveal preferences consistent with an iso-elastic marginal social valuation of income. The estimated value of the elasticity measure is close to unity for each of the political parties. Originality/value – The originality of the paper is in terms of the survey method used to obtain from Turkish politicians estimates of the marginal social valuation of income. This welfare parameter is needed in the calculation of ...
The Economics of Forestry, 1988
The Quarterly Journal of Economics, 1984
Project Appraisal, 1993
Bellinger's attempt to expand the scope of the modified discounting method (MDM) to incl... more Bellinger's attempt to expand the scope of the modified discounting method (MDM) to include private sector projects that create intergenerational externalities is welcome. Indeed, many such projects affect future generations, especially through resource depletion and environmental contamination. However, the philosophical foundation of the MDM, which borrows from the Rawlsian doctrine, has not been given clear interpretation by Bellinger. This paper tries to clarify the issue and also answers a number of questions raised by Bellinger and others.
Economics of Natural Resources, the Environment and Policies, 1994
Economics of Natural Resources, the Environment and Policies, 1994
Economics of Natural Resources, the Environment and Policies, 1994
The Economics of Forestry, 1988
Project Appraisal
The social interest rate (SIR) is an important parameter in project appraisal in public sector ec... more The social interest rate (SIR) is an important parameter in project appraisal in public sector economics. In this article a SIR is derived for the United Kingdom, the United States and Canada on the basis of an individualistic and two-period consumption utility function. The model yields an operational formula the component parameters of which are: a mortality based pure time discount rate; the growth rate of per capita consumption, in real terms; and the elasticity of marginal utility of consumption. The final results are: the United Kingdom 2.6%, the United States 5.3% and Canada 5.4%.
Journal of Interdisciplinary Economics
Journal of Interdisciplinary Economics
Journal of Interdisciplinary Economics
Departmental Working Papers, Nov 1, 2006
ABSTRACT Incluye bibliografía e índice
HISTORY OF ENVIRONMENTAL ECONOMIC THOUGHT This volume presents the ideas of major figures in econ... more HISTORY OF ENVIRONMENTAL ECONOMIC THOUGHT This volume presents the ideas of major figures in economics throughout history on key environmental issues such as population growth, resource scarcity and environmental contamination. Discussion begins with the ...
Bellinger's attempt to expand the scope of the modified discounting method (MDM) to incl... more Bellinger's attempt to expand the scope of the modified discounting method (MDM) to include private sector projects that create intergenerational externalities is welcome. Indeed, many such projects affect future generations, especially through resource depletion and environmental contamination. However, the philosophical foundation of the MDM, which borrows from the Rawlsian doctrine, has not been given clear interpretation by Bellinger. This paper tries to clarify the issue and also answers a number of questions raised by Bellinger and others.
The Journal of Development Studies, Nov 23, 2007
In this article a Social Interest Rate (SIR) is derived for Trinidad and Tobago on the basis of a... more In this article a Social Interest Rate (SIR) is derived for Trinidad and Tobago on the basis of an individualistic, independent and multi‐period consumption utility function. The component parameters of this rate are: a mortality‐based pure time discount rate, the growth rate of per capita real consumption and the elasticity of marginal utility of consumption. The final result is 6.2
Journal of Interdisciplinary Economics, 2003
Journal of Economic Studies, 2014
Purpose – The purpose of this paper is to estimate survey-based values of the elasticity of margi... more Purpose – The purpose of this paper is to estimate survey-based values of the elasticity of marginal social valuation of income, an important welfare parameter in cost-benefit analysis. Design/methodology/approach – A model relating equity welfare weights to income is developed, and iso-elasticity of marginal valuation of income is tested using survey data obtained from a sample of Turkish politicians who are instrumental in policy making. Findings – Based on the survey feedback, formal statistical testing indicates that Turkish politicians, regardless of party allegiance, reveal preferences consistent with an iso-elastic marginal social valuation of income. The estimated value of the elasticity measure is close to unity for each of the political parties. Originality/value – The originality of the paper is in terms of the survey method used to obtain from Turkish politicians estimates of the marginal social valuation of income. This welfare parameter is needed in the calculation of ...
The Economics of Forestry, 1988
The Quarterly Journal of Economics, 1984
Project Appraisal, 1993
Bellinger's attempt to expand the scope of the modified discounting method (MDM) to incl... more Bellinger's attempt to expand the scope of the modified discounting method (MDM) to include private sector projects that create intergenerational externalities is welcome. Indeed, many such projects affect future generations, especially through resource depletion and environmental contamination. However, the philosophical foundation of the MDM, which borrows from the Rawlsian doctrine, has not been given clear interpretation by Bellinger. This paper tries to clarify the issue and also answers a number of questions raised by Bellinger and others.
Economics of Natural Resources, the Environment and Policies, 1994
Economics of Natural Resources, the Environment and Policies, 1994
Economics of Natural Resources, the Environment and Policies, 1994
The Economics of Forestry, 1988