Conférence de Thomas Sterner (Chaire Energie et Prospérité)
Modélisation de la transition écologique
Discount rates – putting a price on the future
Par Thomas Sterner (University of Gothenburg, professeur invité au Collège de France, 2016)
I will explain first why we discount and why the subject is important and then both the intuition and the formal mathematics behind standard discounting as in the Ramsey formula. I will then proceed to mention a number of complications, changes in growth rate, the roles of uncertainty, the curvature of the utility function, discounting in models with several sectors, and discounting under behavioral assumptions of positionality.
Discutant : Adrien Nguyen-Huu (CREST & Ecole Polytechnique)
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Mis à jour le 6/1/2017
