Intergenerational discounting: A new approach
AbstractIn this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neoclassical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an intergenerational framework. The results lead us to the formulation of an adjusted OLG-discounting method of consumption units, taking into consideration intra- and intergenerational aspects. At the end of our paper, we draw some conclusions concerning environmental and resources policy, and sustainability. --
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Bibliographic InfoPaper provided by University of Tübingen, School of Business and Economics in its series Tübinger Diskussionsbeiträge with number 145.
Date of creation: 1998
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Discounting; Time Preference Rate; Opportunity Cost Rate; Overlapping Generations;
Find related papers by JEL classification:
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- H4 - Public Economics - - Publicly Provided Goods
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
- Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
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- Mohamed Mabrouk, 2005. "Intergenerational anonymity as an alternative to the discounted- sum criterion in the calculus of optimal growth I: Consensual optimality," GE, Growth, Math methods 0510013, EconWPA.
- Mohamed Mabrouk, 2005. "Intergenerational anonymity as an alternative to the discounted- sum criterion in the calculus of optimal growth II: Pareto optimality and some economic interpretations," GE, Growth, Math methods 0511007, EconWPA.
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