After reading Theory and Practice in Policy Analysis chapter 7 by M. Granger Morgan, Please answer the below Questions:

In what situations is simple financial discounting appropriate?

Is a real options perspective better? In what ways?

Are discount rates constant?

Should we use the same discount rate for different decisions, or are there situation-specific rates?

Are things more remote spatially similar to those that are more remote temporally: does a spatial discount rate make sense?

In general, what do you think of the applicability of discounting concepts?