Social discount rate: spaces for agreement

被引：5
|
作者：
Hayashi, Takashi [1 ]
Lombardi, Michele [2 ,3 ]
机构：
[1] Univ Glasgow, Adam Smith Business Sch, Glasgow, Lanark, Scotland
[2] Univ Liverpool, Management Sch, Liverpool, Merseyside, England
[3] Univ Napoli Federico II, DiSES, Naples, Italy
来源：
ECONOMIC THEORY BULLETIN | 2021年 / 9卷 / 02期
关键词：
Consensus Pareto; Social aggregation; Discounted utility model; Expected utility theory; Generalized median; TIME CONSISTENCY; PREFERENCE; WELFARE; UTILITY;
D O I：
10.1007/s40505-021-00209-9
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We study the problem of aggregating discounted utility preferences into a social discounted utility preference model. We use an axiom capturing a social responsibility of individuals' attitudes to time, called consensus Pareto. We show that this axiom can provide consistent foundations for welfare judgments. Moreover, in conjunction with the standard axioms of anonymity and continuity, consensus Pareto can help adjudicate some fundamental issues related to the choice of the social discount rate: the society selects the rate through a generalized median voter scheme.
引用
收藏
页码：247 / 257
页数：11
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