The fairness of discounting: a majority rule approach
AbstractA model of majority rule is developed in which each of a finite number of generations votes on a redistribution of income between itself and the other generations. In voting, each generation expresses tastes for its own income and for the distribution of income across generations. The model is then used to derive the conditions under which discounting is justified â€” namely those conditions for which the majority rule exhibits a positive marginal rate of time preference. It is demonstrated that when each generation is wealthier than those preceding it, the parameters representing the taste for income equality must be relatively high for the majority rule to exhibit a positive marginal rate of time preference. Copyright Martinus Nijhoff Publishers 1987
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Federal Reserve Bank of Dallas in its series Working Papers with number 8505.
Date of creation: 1985
Date of revision:
Other versions of this item:
- S. Brown, 1987. "The fairness of discounting: A majority rule approach," Public Choice, Springer, Springer, vol. 55(3), pages 215-226, October.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hamada, Koichi, 1973. "A simple majority rule on the distribution of income," Journal of Economic Theory, Elsevier, vol. 6(3), pages 243-264, June.
- Thurow, Lester C, 1971. "The Income Distribution as a Pure Public Good," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 85(2), pages 327-36, May.
- Becker, Robert A., 1982. "Intergenerational equity: The capital-environment trade-off," Journal of Environmental Economics and Management, Elsevier, vol. 9(2), pages 165-185, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Amy Chapman).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.