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Climate change, intergenerational equity and the social discount rate
Caney, Simon - In: Politics, Philosophy & Economics 13 (2014) 4, pp. 320-342
time discounting, growth discounting and opportunity cost discounting; and it assesses their implications for climate …
Persistent link: https://www.econbiz.de/10010942420
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Recent Developments in the Intertemporal Modeling of Uncertainty
Traeger, Christian P. - In: Annual Review of Resource Economics 1 (2009) 1, pp. 261-285
Time and uncertainty constitute essential ingredients to many of the most challenging resource problems. With respect to the time dimension, agents are generally assumed to have a pure time preference as well as a preference for smoothing consumption over time. With respect to risk, agents are...
Persistent link: https://www.econbiz.de/10010614173
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Sustainability, Limited Substitutability and Non-Constant Social Discount Rates
Traeger, Christian P. - Department of Agricultural and Resource Economics, … - 2008
The paper explores the consequences of limited substitutability in welfare between environmental and produced goods for long-term evaluation. I show how the magnitude and time development of optimal social discount rates depend on the substitutability between the different classes of goods. The...
Persistent link: https://www.econbiz.de/10010676472
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Musings on the Social Discount Rate
Harberger, Arnold C.; Jenkins, Glenn P. - Economics Department, Queen's University - 2015
This paper is mainly concerned with weighted average measures of the social discount rate, where the components of the average are the marginal productivity of investment (measured by its gross-of-tax rate of return), and the marginal rate of time preference (measured by the net-of-tax yield of...
Persistent link: https://www.econbiz.de/10011165235
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Intertemporal Valuation of River Restoration
Meyer, Andrew - In: Environmental & Resource Economics 54 (2013) 1, pp. 41-61
Willingness to pay for an environmental improvement is a function of how long it takes to deliver the improvement. To measure the effect of time on benefits, I utilize a discrete choice experiment that includes an attribute for delay until the improvement occurs and simultaneously estimate...
Persistent link: https://www.econbiz.de/10010987465
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A reconciliation of time preference elicitation methods
Drichoutis, Andreas; Nayga, Rodolfo - Volkswirtschaftliche Fakultät, … - 2013
We reconcile �findings from the Multiple Price List method (Andersen et al., 2008) and the Convex Time Budget method (Andreoni and Sprenger, 2012a) that seem to have generated a heated debate in the time preference literature. Specifi�cally, we discuss the claims of Andreoni and Sprenger...
Persistent link: https://www.econbiz.de/10011260062
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Asymmetric discounting of gains and losses: A query theory account
Appelt, Kirstin; Hardisty, David; Weber, Elke - In: Journal of Risk and Uncertainty 43 (2011) 2, pp. 107-126
Persistent link: https://www.econbiz.de/10009327364
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Estimating discount factors for public and private goods and testing competing discounting hypotheses
Meyer, Andrew - In: Journal of Risk and Uncertainty 46 (2013) 2, pp. 133-173
The observation of declining discount rates in experimental settings has led many to promote hyperbolic discounting … over standard exponential discounting as the preferred descriptive model of intertemporal choice. I develop a new framework … likelihood estimates of discounting parameters. I apply this estimation method to a stated-preference survey of river basin …
Persistent link: https://www.econbiz.de/10010863413
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The impact of gender and working experience on intertemporal choices
Lu, Yang; Zhuang, Xintian - In: Physica A: Statistical Mechanics and its Applications 409 (2014) C, pp. 146-153
Intertemporal choice has been drawing attention in econophysics and neuroeconomics. In this paper, we experimentally estimate the parameters and AICc (Akaike Information Criterion with small sample correction) of intertemporal choice models (exponential, simple hyperbolic, quasi hyperbolic, and...
Persistent link: https://www.econbiz.de/10010872463
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Measuring Impatience: Elicited Discount Rates and the Barratt Impulsiveness Scale
McLeish, Kendra N; Oxoby, Robert J - Volkswirtschaftliche Fakultät, … - 2006
We explore intertemporal decision making to test the extent to which elicited discount rates and a self-reported scale of impatience measure the same behavioral characteristic. We conduct experiments in which we elicit discount rates using monetary rewards and a self-reported measure of...
Persistent link: https://www.econbiz.de/10005619307