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Gollier, Christian
and Weitzman, Martin L.
(2010)
How Should the Distant Future be Discounted When Discount Rates are Uncertain?
Economics Letters, 107 (3).
pp. 350-353.
This is the latest version of this item.
Official URL : http://tse-fr.eu/pub/22208
Identification Number : 10.1016/j.econlet.2010.03.001
Abstract
The so-called “Weitzman–Gollier puzzle” is the fact that two seemingly symmetric and equally plausible ways of dealing with uncertain future discount rates appear to give diametrically opposed results. The puzzle is resolved when agents optimize their consumption plans. The long run discount rate declines over time toward its lowest possible value.
| Item Type: | Article |
|---|---|
| Language: | English |
| Date: | June 2010 |
| Refereed: | Yes |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Site: | UT1 |
| Date Deposited: | 18 Jan 2012 06:02 |
| Last Modified: | 02 Apr 2021 15:36 |
| OAI Identifier: | oai:tse-fr.eu:22208 |
| URI: | https://publications.ut-capitole.fr/id/eprint/3443 |
Available Versions of this Item
-
How Should the Distant Future be Discounted When Discount Rates are Uncertain? (deposited 18 Jan 2012 06:00)
- How Should the Distant Future be Discounted When Discount Rates are Uncertain? (deposited 18 Jan 2012 06:02) [Currently Displayed]
