منابع مشابه
The Social Discount Rate
What discount rate should be applied to social investments? It is standard to use the market interest rate, thereby respecting private preferences. We show that application of this “revealed preference” criterion rests on faith, not logic. It is justified only if preferences over all choices, including past choices, are time invariant. The conditions for this to be true are stringent. Under mor...
متن کاملThe Long-Term Discount Rate∗
We develop an expression for the long-term discount rate in an economy in which a representative consumer has access to both a risk-free and a risky production technology. Even when the risk-free sector is very small, and with probability one becomes a negligible fraction of the economy in the long run, interest rates are determined differently than in a single-sector economy. As in a single-ri...
متن کاملPrinciples Governing AMA Web Sites
THE INTERNET HAS PERMITTED physicians, other health care professionals, patients, and other consumers to quickly access medical information in unprecedented volume. Such access has the potential to speed the transformation of the patient-physician relationship from that of physician authority ministering advice and treatment (with sometimes questionable patient understanding and adherence to re...
متن کاملPrinciples governing auditory cortex connections.
Topographic maps are common constituents of the primary auditory, visual, and somatic sensory cortex. However, in most cortical areas, no such maps have yet been identified, posing a conceptual problem for theories of cortical function centered on topography. What principle guides the organization of these other areas? We investigated this issue in cat auditory cortex. The connectional topograp...
متن کاملThe Consumption Discount Rate for the Distant
Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per capita in the distant future is zero (assuming that humans do not die out). Substituting in the Rams...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The ANNALS of the American Academy of Political and Social Science
سال: 1922
ISSN: 0002-7162,1552-3349
DOI: 10.1177/000271622209900125