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...

To account for the illegal nature of price-fixing agreements, detection probabilities are introduced in a dynamic oligopoly. For a trigger strategy to sustain a non-cooperative collusive equilibrium as a SPNE both the discount rate and all per-period detection probabilities must be ‘low’. The domain reduces for which the strictest IC constraint is binding if (i) any per-period detection probabi...

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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...

BACKGROUND In cost-effectiveness analysis, discount rates are used in calculating the value of future costs and benefits. However, standard discount rates may not accurately describe the decision-making of patients with ulcerative colitis (UC). These patients often choose the long-term risks of immunosuppressive therapy over the short-term risks of colectomy, demonstrating very high discount ra...

In 1], We introduced a new query optimization framework called inten-sional query optimization (IQO). This framework enables existing optimization techniques to be applied to queries over views that employ unions. Advanced database technologies and applications such as federation and mediation over heterogeneous database sources, object oriented databases and query languages, and data warehousi...

In this paper, I examine how time-varying discount factors can contribute to labor market volatility in a Diamond-Mortensen-Pissarides matching model. I find that the procyclical discount factor of either entrepreneurs or workers can magnify labor market volatility. Quantitatively, the entrepreneur’s discount factor has a larger effect than the worker’s discount factor. To account for the obser...

Combining different product types into standard discount bundles is a common strategy used by producers and wholesalers to increase overall sales profitability. While markets consist of many producers and retailers, a deal is typically made between a single producer and a single retailer. This paper deals with a producer who sells items separately, and considers setting and selling standard dis...