The objective of this paper is to adopt a general equilibrium model and determine the socially e¢ cient discount factor, risk free rate and discount rate when there are heterogeneous anticipations about the growth of the economy as well as heterogeneous time preference rates. Among others we tackle the following questions. Is the socially e¢ cient discount factor an arithmetic average of the in...

In general terms, decreasing impatience means decreasing discount rates. This property has been usually referred to as hyperbolic discounting, although there are other discount functions which also exhibit decreasing discount rates. This paper focuses on the measurement of the impatience associated with a discount function with the aim of establishing a methodology to compare this characteristi...

The development of a complete financial structure including balance sheet, income and cash flow statements, coupled with conventional accounting and economic valuation rules, provides the foundation from which riskadjusted discount rates and liability betas can be determined. Since liability betas cannot be measured directly, a shift in focus is proposed to one based on measures more readily av...

Li [1] examined the incentives for information sharing in a two-level supply chain in which there are a manufacturer and many competing retailers. Li showed that direct and leakage effects of information sharing discourage retailers from sharing their information and identified conditions under which demand information sharing can be traded. The purpose of this note is to show that full informa...

In this paper we build a framework of up-to-2-hop hierarchical influence to approximate the spreading of social influence, and further propose a hierarchy-based algorithm to solve the influence maximization problem in social networks. Based on the heuristic of up-to-2-hop influence estimation, the influential nodes are selected according to the marginal influence increment. Our proposed framewo...