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The chase of a multi-armed economist for the elusive social discount rate

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Abstract

The social discount rate debate has been plagued by the use of inadequate one-agent models and vague analysis. The Weitzman-Gollier puzzle (resolution) is picked here to illustrate.

Suggested Citation

  • Rubinchik, Anna, 2015. "The chase of a multi-armed economist for the elusive social discount rate," Working Papers WP2015/8, University of Haifa, Department of Economics, revised 18 Nov 2015.
    • Handle: RePEc:haf:huedwp:wp201508
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    File URL: http://hevra.haifa.ac.il/econ/wp_files/wp201508.pdf
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    References listed on IDEAS

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    1. Shannon, Chris & Zame, William R., 1999. "Quadratic Concavity and Determinacy of Equilibrium," Department of Economics, Working Paper Series qt3fv586x6, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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    6. Zuber, Stéphane & Asheim, Geir B., 2012. "Justifying social discounting: The rank-discounted utilitarian approach," Journal of Economic Theory, Elsevier, vol. 147(4), pages 1572-1601.
    7. Gollier, Christian & Weitzman, Martin L., 2010. "How should the distant future be discounted when discount rates are uncertain?," Economics Letters, Elsevier, vol. 107(3), pages 350-353, June.
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    More about this item

    Keywords

    policy evaluation; social discount rate; social welfare;
    All these keywords.

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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