Forthcoming : Prudent aggregation of quasi-hyperbolic experts

Article dans une revue: Imagine a cohort of economic experts appraising long-term projects through the quasi-hyperbolic discounting criterion. The parameters (long-run and short-run discount rates) used by each expert may differ, which implies different policy recommendations. Subsequently, a decision maker is faced with the task of selecting an efficient aggregation from these varied opinions. This paper proposes a solution to reconcile these conflicting recommendations, taking into account the decision maker’s adoption of a “prudent” behavior.

Auteur(s)

Bach Dong-Xuan, Philippe Bich, Bertrand Wigniolle

Revue
  • Economic Theory
Date de publication
  • 2024
Mots-clés JEL
D70 D90
Mots-clés
  • Quasi-hyperbolic discounting
  • Aggregation of time preferences
  • Discount rate
  • Caution
Version
  • 1