Long time horizons, low discount rates and moderate investment criteria
نویسندگان
چکیده
منابع مشابه
Very Long-Run Discount Rates
We provide the first direct estimates of how agents trade off immediate costs and uncertain future benefits that occur in the very long run, 100 or more years away. We find that very longrun discount rates are low, much lower than implied by most economic theory. We estimate these discount rates by exploiting a unique feature of residential housing markets in England, Wales and Singapore, where...
متن کاملInequality aversion, social discount, and time discount rates
Purpose We conduct a hypothetical dictator game with social distance and time delays using conjoint analysis. Design / methodology / approach Responses from 1,347 Japanese adults are collected through an online survey, and their responses are analyzed using a random parameter logit model. Findings Social preference for the present income of a stranger equals social preference for the income of ...
متن کاملCorruption, Cooperation and Endogenous Time Discount Rates
Virtually all uses of repeated games to study of cooperation assume that people’s time discount rates are exogenous and fixed. Here we offer an evolutionary game embedded in a multi-period model of investment and consumption in which individual time discounts are determined by their convergence to values determined by Evolutionary Stable Strategies. Our substantive motivation, though, is corrup...
متن کاملExplorer Discount rates for long - term projects
General rights Copyright for the publications made accessible via the Edinburgh Research Explorer is retained by the author(s) and / or other copyright owners and it is a condition of accessing these publications that users recognise and abide by the legal requirements associated with these rights. Take down policy The University of Edinburgh has made every reasonable effort to ensure that Edin...
متن کاملDiscount rates for long - term projects
General rights Copyright for the publications made accessible via the Edinburgh Research Explorer is retained by the author(s) and / or other copyright owners and it is a condition of accessing these publications that users recognise and abide by the legal requirements associated with these rights. Take down policy The University of Edinburgh has made every reasonable effort to ensure that Edin...
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ژورنال
عنوان ژورنال: Project Appraisal
سال: 1996
ISSN: 0268-8867
DOI: 10.1080/02688867.1996.9727537