We analyze the role of "the" utility discount rate and its implications to generation-specific and societal altruism and egoism, respectively, in a neoclassical framework. It is worked out clearly, that two different utility discount rates have to be distinguished: An (inverse)...

This paper analyses the choice of an inter-generational discount rate as well as a method for inter-generational discounting. It is shown that the pure time preference rate is irrelevant for inter-generational comparisons. However, the application of the growth time preference rate - with...

In this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neo-classical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an...