A Response

Although Allen Rappaport is critical of many things, including authors, editors, and referees, it seems that his principal concerns with the article which Meir Rosenblatt and I wrote have to do with our interpretation of the data presented in Table 1 of that article. Rosenblatt and I looked at these data and concluded that “the trend is unmistakable … the rate of adoption (of the use of discounting techniques) may be slower than some would wish, but the trend is significant and in the right direction.