Aggregation of Heterogeneous Time Preferences

By Christian Gollier, Richard J. Zeckhauser. Journal of Political Economy, 2005

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Should Governments Use a Declining Discount Rate in Project Analysis? (2014, background): “One approach to this problem is to characterize equilibrium discount rates in an economy in which agents differ in their rate of time preference (Gollier and Zeckhauser 2005) and possibly in their assumptions about future growth in consumption (Jouini, Marin, and Napp 2010). (23)Relative risk aversi”
Asset Prices with Heterogeneity in Preferences and Beliefs (2014, unknown): “The effect of different time-discount factors on the efficient allocation of consumption is studied in Gollier and Zeckhauser (2005).”
Reflections Uncertainty and Decision Making in Climate Change Economics (2014, background): “Gollier and Zeckhauser (2005) and Heal and Millner (2013) pursue this point further and consider how groups should discount the future when different people have different pure rates of time preference.”