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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

Frames of Mind in Intertemporal Choice

Loewenstein, George F. - In: Management Science 34 (1988) 2, pp. 200-214

Recent research has demonstrated that choices between gambles are systematically influenced by the way they are expressed. Kahneman and Tversky's Prospect Theory (Kahneman, D., A. Tversky. 1979. Prospect theory: An analysis of decision under risk. Econometrica 47(2) 363--391.) explains many of...

Persistent link: https://www.econbiz.de/10009197388

Psychophysics of time perception and intertemporal choice models

Takahashi, Taiki; Oono, Hidemi; Radford, Mark H.B. - In: Physica A: Statistical Mechanics and its Applications 387 (2008) 8, pp. 2066-2074

neuroeconomics. Several models have been proposed for intertemporal choice: exponential discounting, general hyperbolic discounting … (exponential discounting with logarithmic time perception of the Weber–Fechner law, a q-exponential discount model based on Tsallis …’s statistics), simple hyperbolic discounting, and Stevens’ power law–exponential discounting (exponential discounting with Stevens …

Persistent link: https://www.econbiz.de/10010589624

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

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

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