Discounting the future: John Rawls and Derek Parfit's critique of the discount rate

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Coastal and marine ecosystem services valuation for policy and management: Managed realignment case studies in England (2011, background): “There is in the economic literature an ongoing debate around the correct discount rate to be applied in the social appraisal of long-term environmental projects which has not reached a satisfactory conclusion (Broome, 1995; Dasgupta, 2008; Frederick et al., 2002).”
Discounting and relative prices (2007, background): “For the limiting case of ρ=0, this means that if one is offered a particular increase in consumption in any year, one would 3See, e.g., Fisher and Krutilla (1975), Hasselmann (1999), Nordhaus (1997), Vennemo (1997), and Philibert (1999, 2006).”
Limitations of integrated assessment models of climate change (2009, background): “Numerous economists and philosophers since Ramsey have argued that weighing all generations equally, ρ = 0, is the only ethically defensible practice (for modern treatments, see Cline 1992 and Broome 1994); yet IAMs continue to assume ρ > 0.”
The economics (or lack thereof) of aerosol geoengineering (2009, background): “Two key parameters representing important value judgments in this framework are the social rate of time preference ( ) t ρ and the elasticity of marginal utility of consumption α (Bradford, 1999; Broome, 1994; Ludwig et al., 2005; Nordhaus, 2008).”