Discounting and the Time Preference Rate:an introduction

摘要: This paper provides an introduction to the evaluation of alternative time streams consumption and closely related concept preference. The potential sensitivity comparisons, especially choice preference rate elasticity marginal valuation, is demonstrated. nature preference, based on axiomatic approach, then discussed. analysis optimisation over leads social rate, a difficulty with using this highlighted. Finally, complications introduced by non-income differences between individuals are examined. Emphasis placed central role value judgements.