On Multiple Discount Rates
Copyright policy )On Multiple Discount Rates
We propose a theory of intertemporal choice that is robust to specific assumptions on the discount rate. One class of models requires that one utility stream be chosen over another if and only if its discounted value is higher for all discount factors in a set. Another model focuses on an average discount factor. Yet another model is pessimistic, and evaluates a flow by the lowest available discounted value.
Submitted - sswp1418.pdf
- California Institute of Technology United States
Stationarity, Environmental economics (natural resource models, harvesting, pollution, etc.), 330, discounting, social discount factor, Global warming, maxmin expected utility, Social choice, preference aggregation, global warming, Decision Theory, Discounted utility
Stationarity, Environmental economics (natural resource models, harvesting, pollution, etc.), 330, discounting, social discount factor, Global warming, maxmin expected utility, Social choice, preference aggregation, global warming, Decision Theory, Discounted utility
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