The Social Discount Rate

In welfare theory it is standard to pick the consumption stream that maximizes the welfare of the representative agent. We argue against this position, and show that a benevolent social planner will generally place a greater weight on future consumption than does the representative agent. Our analysis has immediate implications for public policy: agents discount the future too much and the government should promote future oriented policies

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Year of publication:	[2022]
Authors:	Caplin, Andrew ; Leahy, John V.
Publisher:	[S.l.] : SSRN
Subject:	Theorie \| Theory \| Soziale Diskontrate \| Social discount rate \| Wohlfahrtsökonomik \| Welfare economics

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Extent:	1 Online-Ressource (31 p)
Series:	NBER Working Paper ; No. w7983
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 2000 erstellt
Source:	ECONIS - Online Catalogue of the ZBW

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