Intergenerational Discounting: A new Approach

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Dokumentart: (wissenschaftlicher) Artikel
Date: 1998
Source: Diskussionsbeitrag Wirtschaftswissenschaftliche Fakultät der Eberhard-Karls-Universität Tübingen ; 145
Language: English
Faculty: 6 Wirtschafts- und Sozialwissenschaftliche Fakultät
Department: Wirtschaftswissenschaften
DDC Classifikation: 330 - Economics
Keywords: Mehrgenerationenmodell , Zeitpräferenz , Opportunitätskosten
Other Keywords:
Discounting , Time Preference Rate , Opportunity Cost Rate , Overlapping Generations.
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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.

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