This paper aims to estimate the social discount rate (SDR) rather than dig into its theoretical foundation. As SDRs can be derived by investigating both the rate of return on investment and the social time preference rate, we estimate the marginal productivity of both private and public capital...

В статье рассматриваются проблемы точного расчета социальной эффективности инвестиционного проекта, реализация которого ожидается через длительный...

The assumption of the representative household defined as the average of all households is impossible in dynamic models if households are heterogeneous in their time preference rates because, as is well known, the most patient household eventually prevails. Because time preference rates are...