On multiple discount rates and present bias - HAL Accéder directement au contenu
Pré-publication, Document de travail (Working Paper) Année : 2022

On multiple discount rates and present bias

Résumé

In this paper, we give axiomatic foundations for a social planner objective function that takes the form of the maxmin of quasi-hyperbolic criteria. The minimum is taken over a set Q of possible pairs of discount rates δ and present bias parameters p0. When there is no present bias, we recover Chambers and Echenique’s axiomatization of maxmin exponential preferences, and when Q reduces to a singleton, we get Montiel Olea and Strzalecki’s axiomatization of quasi-hyperbolic preferences. To prove our main result, we provide some intertemporal variational representation results of interest for its own sake.
Fichier principal
Vignette du fichier
wp_202239_.pdf ( 615.84 Ko ) Télécharger
Origine : Publication financée par une institution
Loading...

Dates et versions

halshs-03884664, version 1 (05-12-2022)

Identifiants

  • HAL Id : halshs-03884664 , version 1

Citer

Bach Dong Xuan, Philippe Bich, Bertrand Wigniolle. On multiple discount rates and present bias. 2022. ⟨halshs-03884664⟩
115 Consultations
72 Téléchargements
Dernière date de mise à jour le 05/05/2024
comment ces indicateurs sont-ils produits

Partager

Gmail Facebook Twitter LinkedIn Plus