.png){kind=icon}
.png){kind=icon}
Return
Social time preference
.png){kind=icon}
PRE
AI
DOI：10.1007/s001480050155.png)
.png){kind=icon}
Original request for help.png){kind=icon}
Share.png){kind=icon}
Save
Abstract
En 中文
The observed practice of discounting the future should not be rationalised on the grounds of myopia or selfishness. A positive rate of pure time preference is necessary to ensure that heterogeneous generations are treated in an egalitarian fashion. A zero social discount rate would yield intertemporal allocations which are biased against the current generations. Endogenous productivity growth requires that the social discount rate be set above the subjective rate of pure time preference. Positive social time preference, far from discriminating against future generations, is essential for a fairer intertemporal allocation of resources. JEL classification: 43.
Keywords:
social discount rate
overlapping generations
AI Summary
Key information extracted from the uploaded paper, including a brief overview, abstract, background, key highlights, visual analysis, and future outlook.
Journal
IF:
3
Papers:
1.5K
Citations:
3.3K
Organization
No organization information available