Multigenerational value: Modifying the modified discounting method

Abstract

Economic models for three systems of land use, applicable to semi-arid areas of Africa, are developed. The financial and economic costs and benefits of each model are compared and the foreign currency earning capacity evaluated. Conclusions are drawn as to the economic form of land use for natural regions of differing potential. The models are based on real examples of land use in Zimbabwe, but can be calibrated for other systems or regions to provide a common basis for comparison. © 1991 Taylor & Francis Group, LLC.