On Multiple Discount Rates

S-Tier
Journal: Econometrica
Year: 2018
Volume: 86
Issue: 4
Pages: 1325-1346

Authors (2)

Christopher P. Chambers (not in RePEc) Federico Echenique (University of California-Berke...)

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We study the problem of resolving conflicting discount rates via a social choice approach. We introduce several axioms, seeking to capture the tension between allowing for intergenerational comparisons of utility, and imposing intergenerational fairness. Depending on which axioms are judged appropriate, we are led to one of several conclusions: a utilitarian, maxmin, or a multi‐utilitarian rule, whereby a utility stream is judged by the worst in a set of utilitarian weighting schemes across discount rates.

Technical Details

RePEc Handle
repec:wly:emetrp:v:86:y:2018:i:4:p:1325-1346
Journal Field
General
Author Count
2
Added to Database
2026-01-25