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Properties of the Social Discount Rate in a Benthamite Framework with Heterogeneous Degrees of Impatience

dc.contributor.authorJouini, Elyès
HAL ID: 6654
dc.contributor.authorNapp, Clotilde
HAL ID: 741006
ORCID: 0000-0002-7008-5949
dc.contributor.authorNocetti, Diego
dc.date.accessioned2009-06-13T07:57:11Z
dc.date.available2009-06-13T07:57:11Z
dc.date.issued2008
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/260
dc.descriptionCet article est également édité dans les Cahiers de la Chaire "Les Particuliers face aux Risques" del'Institut de Finance de Dauphine, cahier n°14, octobre 2007
dc.language.isoenen
dc.subjectSocial Discount Rateen
dc.subjectHyperbolic Discountingen
dc.subjectCost-Benefit Analysisen
dc.subject.ddc332en
dc.subject.classificationjelD61en
dc.subject.classificationjelG12en
dc.subject.classificationjelH43en
dc.titleProperties of the Social Discount Rate in a Benthamite Framework with Heterogeneous Degrees of Impatienceen
dc.typeArticle accepté pour publication ou publié
dc.contributor.editoruniversityotherClarkson University;États-Unis
dc.description.abstractenThis 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.en
dc.relation.isversionofjnlnameManagement Science
dc.relation.isversionofjnlvol54en
dc.relation.isversionofjnlissue10en
dc.relation.isversionofjnldate2008-10
dc.relation.isversionofjnlpages1822-1826en
dc.relation.isversionofdoihttp://dx.doi.org/10.1287/mnsc.1080.0904en
dc.identifier.urlsitehttp://halshs.archives-ouvertes.fr/halshs-00365980/fr/en
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherINFORMSen
dc.subject.ddclabelEconomie financièreen


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