Discounting and Expropriation Risk
This paper investigates the association between discounting and risk of expropriation and provides the theoretical conditions that make a positive association consistent with rationality. Moreover, using a national representative sample and a representative sample of the 50+ in eleven European countries, we show that discounting increases with expropriation risk. The two surveys give direct measures of discount rate as well as measures derived from households consumption decisions and provide proxies for expropriation from government and expropriation from criminal offenses.
|Date of creation:||01 May 2007|
|Publication status:||Published in Research in Economics, 2013, 67, pp. 145-156.|
|Contact details of provider:|| Postal: I-80126 Napoli|
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References listed on IDEAS
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- Gollier, Christian, 2002. "Discounting an uncertain future," Journal of Public Economics, Elsevier, vol. 85(2), pages 149-166, August.
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- Gollier, Christian, 2002. "Time Horizon and the Discount Rate," Journal of Economic Theory, Elsevier, vol. 107(2), pages 463-473, December. Full references (including those not matched with items on IDEAS)
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