Descripción
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It exists different ways for defining a welfare function. Traditionally, welfare economic theory foundation is based on the Net Present Value (NPV) calculation where the time dependent preferences of considered agents are taken into account. However, the time preferences, remains a controversial subject. Currently, the traditional approach employs a unique discount rate for various agents. Nevertheless, this way of discounting appears inconsistent with sustainable development. New research work suggests that the discount rate may not be a homogeneous value. The discount rates may change following the individual?s preferences. A significant body of evidence suggests that people do not behave following a constant discount rate. In fact, UK Government has quickly recognized the power of the arguments for time-varying rates, as it has done in its official guidance to Ministries on the appraisal of investments and policies. Other authors deal with not just time preference but with uncertainty about future income (precautionary saving). In a situation in which economic growth rates are similar across time periods, the rationale for declining social optimal discount rates is driven by the preferences of the individuals in the economy, rather than expectations of growth. However, these approaches have | |
Internacional
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Si |
Nombre congreso
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XVIII Congreso Panamericano de Ingeniería de Tránsito, Transporte y Logística, PANAM 2014 |
Tipo de participación
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960 |
Lugar del congreso
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Revisores
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Si |
ISBN o ISSN
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978-84-617-0085-1 |
DOI
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Fecha inicio congreso
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11/06/2014 |
Fecha fin congreso
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13/06/2014 |
Desde la página
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1 |
Hasta la página
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17 |
Título de las actas
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Actas del XVIII Congreso Panamericano de Ingeniería de Tránsito, Transporte y Logística, PANAM 2014 |