Consider the role of discount rates in problems involving long time horizons such as climate change. Suppose

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Consider the role of discount rates in problems involving long time horizons such as climate change. Suppose that a particular emissions abatement strategy would result in a

$500 billion reduction in damages 50 years into the future. How would the maximum amount spent now to eliminate those damages change if the discount rate is 2 percent, rather than 10 percent?

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