Apparently, I’m British. Well, not really. But my siding for zero-time preferences is apparently un-American, in terms of the modes of thought of American economists. One of the points I made earlier, that Robin’s point 2 about looking at the market for the rate is non-responsive to Eliezer’s objection that this is a bias, is [...]
For anyone who has thought about climate change, or any other major, long term policy, remotely seriously, the choice of a discount rate becomes a critical value in your model rather quickly. The problem is, of course, that it is a value that can substantially alter the outcomes of an analysis, but the choice of [...]
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