aspects of time discounting: (i) impatience, measured by the overall discount rate; (ii) present bias, measured by the degree … of declining impatience in the generalized hyperbolic discount function; and (iii) the sign effect, in that future losses … are indicative of being a time-inconsistent procrastinator, and classified as sophisticated otherwise. The health …

that LDU meets the standard assumptions of efficiency, equity, and interpersonal comparability, but allows us to compare … more pairs of utility streams than commonly used utilitarian criteria, including the overtaking criterion and the catching …-up criterion. We also introduce a principle of compensation for postponements of utility streams and use it to characterize the LDU …

is about 0.9, but we cannot rule out 1.0 being included in the 95% confidence interval. The implied pure rate of time …The Ramsey (1928) equation decomposes the real discount rate into the pure rate of time preference plus a term that … accounts for the changing marginal utility of consumption. Discussions about the appropriate discount rate to apply in Cost …

author. This article shows that the two axioms are equivalent to awareness of physical limits in the long run future. We … maximizing utilites that treat equally the present and the future. The equal treatment axioms are therefore the essence of … sustainable development. The "weight" ? given to the long run future is identi.ed with the marginal utility of the environmental …