SERE seminar: Heterogeneous altruism and long-run discounting

Speaker: Antony Millner. Thursday 12 May 2016.


Heterogeneous altruism and long-run discounting

Speaker: Dr. Antony Millner, the London school of economics and political science

Download seminar invitation

New research on topics related to the environment and natural resources - The Beijer Institute of Ecological Economics

Abstract: The long-run pure rate of social time preference (or utility discount rate) is an enormously important component of cost-benefit analysis of long-lived public policies such as climate change, nuclear waste management, and public infrastructure investments.  For almost a century, economists and philosophers have had disagreements about the appropriate value of this parameter, leading to substantial disagreements on the benefits of long-run policies.  l present a model of intergenerational discounting in which everyone has an unconstrained opinion about how society should discount future generations' wellbeing, but their preferences are non-paternalistic.  I show that non-paternalism causes all agents to agree on the long-run pure rate of time preference, thus ending debate on this crucial parameter, and helping economists achieve consensus on how to value long-run policies.

Date: Thursday 12 May, 2016

Time: 14.00-15.00

Venue: Royal Swedish Academy of Sciences, Linné Hall, Lilla Frescativägen 4A, Stockholm

After the seminar there will be coffee and mingle


Chandra Kiran, the Beijer Institute, Seminar series organiser

Agneta Sundin, Communications officer