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Intergenerational discounting: A new approach

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  • Bayer, Stefan

Abstract

In 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.

Suggested Citation

  • Bayer, Stefan, 1998. "Intergenerational discounting: A new approach," Tübinger Diskussionsbeiträge 145, University of Tübingen, School of Business and Economics.
  • Handle: RePEc:zbw:tuedps:145
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    File URL: https://www.econstor.eu/bitstream/10419/47523/1/258342412.pdf
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    Cited by:

    1. 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.
    2. 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.

    More about this item

    Keywords

    Discounting; Time Preference Rate; Opportunity Cost Rate; Overlapping Generations;

    JEL classification:

    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D6 - Microeconomics - - Welfare Economics
    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • H4 - Public Economics - - Publicly Provided Goods
    • O1 - Economic Development, Innovation, 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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