Properties of the Social Discount Rate in a Benthamite Framework with Heterogeneous Degrees of Impatience
Jouini, Elyès; Napp, Clotilde; Nocetti, Diego (2008), Properties of the Social Discount Rate in a Benthamite Framework with Heterogeneous Degrees of Impatience, Management Science, 54, 10, p. 1822-1826. http://dx.doi.org/10.1287/mnsc.1080.0904
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Article accepté pour publication ou publiéLien vers un document non conservé dans cette base
http://halshs.archives-ouvertes.fr/halshs-00365980/fr/Date
2008Nom de la revue
Management ScienceVolume
54Numéro
10Éditeur
INFORMS
Pages
1822-1826
Identifiant publication
Métadonnées
Afficher la notice complèteRésumé (EN)
This paper derives the properties of the discount rate that should be applied to a public-sector project when the affected population has heterogeneous degrees of impatience. We show that, for any distribution of discount rates, the social discount rate has the following properties: it decreases over time, it is lower than the average of the discount rates in the population, and it converges to the discount rate of the most patient individual in the economy. These properties hold for both constant and decreasing individual discount rates. Finally, we evaluate how changes in the distribution of individual discount rates affect the social discount rate.Mots-clés
Social Discount Rate; Hyperbolic Discounting; Cost-Benefit AnalysisPublications associées
Affichage des éléments liés par titre et auteur.
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Nocetti, Diego; Napp, Clotilde; Jouini, Elyès (2012-05) Communication / Conférence
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Jouini, Elyès; Napp, Clotilde; Nocetti, Diego (2013) Article accepté pour publication ou publié
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Jouini, Elyès; Napp, Clotilde; Nocetti, Diego (2013) Article accepté pour publication ou publié
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Jouini, Elyès; Napp, Clotilde (2008) Document de travail / Working paper
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Jouini, Elyès; Napp, Clotilde; Nocetti, Diego (2013) Article accepté pour publication ou publié