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The Social Discount Rate

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NBER2000-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w7983
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In welfare theory it is standard to pick the consumption stream that maximizes the welfare of the representative agent. We argue against this position, and show that a benevolent social planner will generally place a greater weight on future consumption than does the representative agent. Our
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2000-10-01
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