Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/306537 
Year of Publication: 
2024
Series/Report no.: 
Center for Mathematical Economics Working Papers No. 697
Publisher: 
Bielefeld University, Center for Mathematical Economics (IMW), Bielefeld
Abstract: 
This paper addresses the intricate challenge of establishing social discount rates across far-reaching generations, particularly in the face of divergent social viewpoints. We introduce several principles related to Dominant Unanimity, which enable non-dictatorial social discounting, and we characterize different ranges of social discount factors based on individual one-period discount factors. Our findings suggest that societies adhering to these principles exhibit varying degrees of patience and different ranges of social discounting. This approach provides theoretical pathways to enhance the consideration of distant future welfare, particularly in the context of long-term economic activities and policies.
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.