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discounting-invariant condition of absence of arbitrage, the original prices discounted by the value process of any simple …
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having solved the Weitzman-Gollier puzzle, concluding from a risk-averse utility maximizing model that Weitzman discounting … discounting is wrong; there is no puzzle if the correct method is used. Risk-neutral discount rates are growing, rather than …
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This paper investigates the impact of Social Discount Rate (SDR) choice on intergenerational equity issues caused by Public-Private Partnerships (PPPs) projects. Indeed, more PPPs mean more debt being accumulated for future generations leading to a fiscal deficit crisis. The paper draws on how...
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allows us to clarify the issue of dynamic inconsistency and relate it to simple properties of discounting. We distinguish …
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