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On multiple discount rates

Chambers, Christopher P. and Echenique, Federico (2016) On multiple discount rates. Social Science Working Paper, 1418. California Institute of Technology , Pasadena, CA. (Unpublished)

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We propose a theory of intertemporal choice that is robust to specific assumptions on the discount rate. One class of models requires that one utility stream be chosen over another if and only if its discounted value is higher for all discount factors in a set. Another model focuses on an average discount factor. Yet another model is pessimistic, and evaluates a flow by the lowest available discounted value.

Item Type:Report or Paper (Working Paper)
Related URLs:
URLURL TypeDescription ItemPublished Version
Chambers, Christopher P.0000-0001-8253-0328
Echenique, Federico0000-0002-1567-6770
Group:Social Science Working Papers
Subject Keywords:Discounted utility; Stationarity; Decision Theory
Series Name:Social Science Working Paper
Issue or Number:1418
Classification Code:JEL: D90, D70
Record Number:CaltechAUTHORS:20170726-084059845
Persistent URL:
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:79390
Deposited By: Hanna Storlie
Deposited On:07 Aug 2017 21:37
Last Modified:09 Mar 2020 13:18

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