Grijalva, Therese; Lusk, Jayson; Shaw, W. - In: Environmental & Resource Economics 59 (2014) 1, pp. 39-63
We use a laboratory experiment to elicit discount rates over a 20-year time horizon using government savings bonds as a …, we also find strong support for non-constant, declining discount rates for longer time horizons, with an extrapolated … implied annual discount rate approaching 0.5 % in 100 years. There is heterogeneity in discount rates and risk preferences in …