Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/26402 
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dc.contributor.authorBuchholz, Wolfgangen
dc.contributor.authorSchumacher, Janen
dc.date.accessioned2008-09-08-
dc.date.accessioned2009-07-28T08:31:26Z-
dc.date.available2009-07-28T08:31:26Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/26402-
dc.description.abstractIn this paper, we reconsider the debate on Weitzman's (1998) suggestion to discount the long-run future at the lowest possible rate, referring to Gollier (2004) and Hepburn & Groom (2007). We show that, while Weitzman's use of the present value approach may indeed seem questionable, its outcome, i.e. a discount rate that is declining over time, is nevertheless reasonable, since it can be justified by assuming a plausible degree of risk aversion.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x2357en
dc.subject.jelD40en
dc.subject.jelE43en
dc.subject.jelQ51en
dc.subject.ddc330en
dc.subject.keywordDiscount ratesen
dc.subject.keyworduncertaintyen
dc.subject.keywordrisk aversionen
dc.subject.stwAbzinsungen
dc.subject.stwIntertemporale Allokationen
dc.subject.stwEntscheidung bei Unsicherheiten
dc.subject.stwRisikoaversionen
dc.subject.stwTheorieen
dc.titleDiscounting the long-distant future: a simple explanation for the Weitzman-Gollier-puzzle-
dc.typeWorking Paperen
dc.identifier.ppn577091581en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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