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A not so myopic axiomatization of discounting
Economic Theory ( IF 1.2 ) Pub Date : 2021-01-17 , DOI: 10.1007/s00199-020-01336-3
Jean-Pierre Drugeon , Thai Ha Huy

This article builds an axiomatization of inter-temporal trade-offs that takes an explicit account of the distant future. The focus is on separable representations and the approach is completed following a decision-theory index based approach that is applied to utility streams understood as the well-being of future generations. The introduction of some new axioms is herein shown to lead to the emergence of two distinct orders that respectively relate to the distant future and close future components of some utility stream. This enlightens the limits of the commonly used fat tail intensity requisites for the evaluation of utility streams. These are replaced by an axiomatic approach to myopia degrees.



中文翻译:

不那么近视公理化

本文建立了跨时权衡的公理化,明确考虑了遥远的未来。重点放在可分离的表示形式上,并且该方法是在基于决策理论索引的方法之后完成的,该方法适用于被视为后代幸福的公用事业流。本文显示了一些新公理的引入导致出现了两个不同的阶,它们分别与某些公用事业流的遥远的将来不久的将来的组件有关。这启发了常用脂肪尾流强度评估公用工程流所必需的限制。这些被近视度的公理治疗所取代。

更新日期:2021-01-18
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