File Download
There are no files associated with this item.
Links for fulltext
(May Require Subscription)
- Publisher Website: 10.1257/aer.104.11.3481
- Scopus: eid_2-s2.0-84908223599
- WOS: WOS:000345906500004
- Find via
Supplementary
- Citations:
- Appears in Collections:
Article: A biological theory of social discounting
Title | A biological theory of social discounting |
---|---|
Authors | |
Issue Date | 2014 |
Citation | American Economic Review, 2014, v. 104, n. 11, p. 3481-3497 How to Cite? |
Abstract | We consider a growth model in which intergenerational transfers are made via stocks of private and public capital. Private capital is the outcome of individuals' private savings while decisions regarding public capital are made collectively. We hypothesize that private saving choices evolve through individual selection while public saving decisions are the result of group selection. The main result of the paper is that the equilibrium rate of return to private capital is at least 2-3 percent more than the rate of return to public capital. In other words, social choices involving intertemporal trade-offs exhibit much more patience than individual choices do. |
Persistent Identifier | http://hdl.handle.net/10722/329338 |
ISSN | 2023 Impact Factor: 10.5 2023 SCImago Journal Rankings: 22.344 |
ISI Accession Number ID |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Robson, Arthur J. | - |
dc.contributor.author | Szentes, Balázs | - |
dc.date.accessioned | 2023-08-09T03:32:05Z | - |
dc.date.available | 2023-08-09T03:32:05Z | - |
dc.date.issued | 2014 | - |
dc.identifier.citation | American Economic Review, 2014, v. 104, n. 11, p. 3481-3497 | - |
dc.identifier.issn | 0002-8282 | - |
dc.identifier.uri | http://hdl.handle.net/10722/329338 | - |
dc.description.abstract | We consider a growth model in which intergenerational transfers are made via stocks of private and public capital. Private capital is the outcome of individuals' private savings while decisions regarding public capital are made collectively. We hypothesize that private saving choices evolve through individual selection while public saving decisions are the result of group selection. The main result of the paper is that the equilibrium rate of return to private capital is at least 2-3 percent more than the rate of return to public capital. In other words, social choices involving intertemporal trade-offs exhibit much more patience than individual choices do. | - |
dc.language | eng | - |
dc.relation.ispartof | American Economic Review | - |
dc.title | A biological theory of social discounting | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1257/aer.104.11.3481 | - |
dc.identifier.scopus | eid_2-s2.0-84908223599 | - |
dc.identifier.volume | 104 | - |
dc.identifier.issue | 11 | - |
dc.identifier.spage | 3481 | - |
dc.identifier.epage | 3497 | - |
dc.identifier.eissn | 1944-7981 | - |
dc.identifier.isi | WOS:000345906500004 | - |