Welfare criteria for quasi-hyperbolic time preferences

Minwook Kang ()
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Minwook Kang: Nanyang Technological University

Economics Bulletin, 2015, vol. 35, issue 4, 2506-2511

Abstract: The most prevalent welfare criteria for quasi-hyperbolic discounting models are the Pareto criterion that takes into account all periods' intertemporal utilities and the long-run perspective criterion that considers the intertemporal utility in fictitious period 0. This paper shows that efficiency by the Pareto criterion implies efficiency by the long-run criterion.

Keywords: Quasi-hyperbolic discouting; Long-run perspective criterion; Pareto criterion (search for similar items in EconPapers)
JEL-codes: D0 (search for similar items in EconPapers)
Date: 2015-12-13
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Citations: View citations in EconPapers (8)

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