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| Minwook Kang |
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| ''Welfare criteria for quasi-hyperbolic time preferences'' |
| ( 2015, Vol. 35 No.4 ) |
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| The most prevalent welfare criteria for quasi-hyperbolic discounting models are the Pareto criterion that takes into account all periods' intertemporal utilities and the long-run perspective criterion that considers the intertemporal utility in fictitious period 0. This paper shows that efficiency by the Pareto criterion implies efficiency by the long-run criterion. |
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| Keywords: Quasi-hyperbolic discouting, Long-run perspective criterion, Pareto criterion |
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| Manuscript Received : Oct 25 2015 | | Manuscript Accepted : Dec 13 2015 |
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