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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

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

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

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

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

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

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

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

A comparison of intertemporal choices for oneself versus someone else based on Tsallis’ statistics

Takahashi, Taiki - In: Physica A: Statistical Mechanics and its Applications 385 (2007) 2, pp. 637-644

Impulsivity and inconsistency in intertemporal choice (discounting) have drawn attention in econophysics and … neuroeconomics. Although it is well established that most people often show irrational discounting (e.g., hyperbolic discounting … some others may neither reduce impulsivity nor correct inconsistency and (ii) when q-exponential discounting is utilized …

Persistent link: https://www.econbiz.de/10011058427

Discount functions and self-control problems

Caliendo, Frank N.; Findley, T. Scott - In: Economics Letters 122 (2014) 3, pp. 416-419

In this paper we propose a new strategy for comparing the behavior of a hyperbolic discounter who possesses self-control problems to an exponential discounter who does not. Our strategy controls for inherent differences in overall levels of impatience across discount functions, which thereby...

Persistent link: https://www.econbiz.de/10010743718