Nocetti, Diego; Jouini, Elyès; Napp, Clotilde - In: Management Science 54 (2008) 10, pp. 1822-1826
This paper derives the properties of the discount rate that should be applied to a public-sector project when the affected population has heterogeneous degrees of impatience. We show that, for any distribution of discount rates, the social discount rate has the following properties: it decreases...