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An equilibrium approach for Gamma Discounting

dc.contributor.authorJouini, Elyès
HAL ID: 6654
dc.contributor.authorNapp, Clotilde
HAL ID: 741006
ORCID: 0000-0002-7008-5949
dc.date.accessioned2010-11-03T13:58:47Z
dc.date.available2010-11-03T13:58:47Z
dc.date.issued2009-02
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/4987
dc.language.isoenen
dc.subjectConsumption discount rateen
dc.subjectequilibrium discount rateen
dc.subjectexperts discount rateen
dc.subjecthyperbolic discountingen
dc.subjectcost-benefit analysisen
dc.subjectgamma discountingen
dc.subjectdivergence of opinionen
dc.subject.ddc338.5en
dc.subject.classificationjelH43en
dc.subject.classificationjelE43en
dc.subject.classificationjelD84en
dc.subject.classificationjelD81en
dc.titleAn equilibrium approach for Gamma Discountingen
dc.typeCommunication / Conférence
dc.description.abstractenWe address the problem of a social planner who, as in Weitzman (2001), gathers data on discount rates and wants to infer the socially efficient consumption discount rate. We propose an equilibrium approach and we analyse the expression and the properties of the resulting equilibrium discount rate. We provide equilibrium foundations for Gamma discounting at the collective level even though individual agents are classical exponential discounters. We analyse the impact of shifts in the distributions of individual discount rates on the shape of the yield curve. Finally, we apply our approach to Weitzman (2001)'s data to propose discount rates for public sector Cost-Bene t Analysis, in particular for the long term.en
dc.identifier.citationpages24en
dc.description.sponsorshipprivateouien
dc.subject.ddclabelMicroéconomieen
dc.relation.conftitleEuropean Economic Association & Econometric Societyen
dc.relation.confdate2009-08
dc.relation.confcityBarceloneen
dc.relation.confcountryEspagneen


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