David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Social discounting in economics involves applying a diminishing weight to community-wide benefits or costs into the future. It impacts on public policy decisions involving future positive or negative effects, but there is no consensus on the correct basis for determining the social discount rate. This study presents an evolutionary biological framework for social discounting. How an organism should value future benefits to its local community is governed by the extent to which members of the community in the future are likely to be its kin. Trade-offs between immediate and delayed benefits to an individual or to its community are analysed for a modelled patch-structured iteroparous population with limited dispersal. It is shown that the social discount rate is generally lower than the individual (private) discount rate. The difference in the two rates is most pronounced, in ratio terms, when the dispersal level is low and the hazard rate for patch destruction is much smaller than the individual mortality rate. When decisions involve enforced collective action rather than individuals acting independently, social investment increases but the social discount rate remains the same.
|Keywords||No keywords specified (fix it)|
No categories specified
(categorize this paper)
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
|Through your library||
References found in this work BETA
No references found.
Citations of this work BETA
No citations found.
Similar books and articles
Gustav Tinghög (2012). Discounting, Preferences, and Paternalism in Cost-Effectiveness Analysis. Health Care Analysis 20 (3):297-318.
NG Yew-Kwang (2005). Intergenerational Impartiality: Replacing Discounting by Probability Weighting. [REVIEW] Journal of Agricultural and Environmental Ethics 18 (3):237-257.
L. van Liedekerke (2004). Discounting the Future: John Rawls and Derek Parfit's Critique of the Discount Rate. Ethical Perspectives 11 (1):72-83.
Geoffrey Brennan (2007). Discounting the Future, yet Again. Politics, Philosophy and Economics 6 (3):259-284.
David Spurrett, Jacques Rousseau & Don Ross, Reward Discounting and Severity of Disordered Gambling in a South African Population.
E. Wesley & F. Peterson (1993). Time Preference, the Environment and the Interests of Future Generations. Journal of Agricultural and Environmental Ethics 6 (2):107-126.
Added to index2010-07-25
Total downloads11 ( #137,127 of 1,101,681 )
Recent downloads (6 months)3 ( #116,934 of 1,101,681 )
How can I increase my downloads?