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Restricted dominant unanimity and social discounting

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  • Dong-Xuan, Bach
  • Qu, Xiangyu

Abstract

This paper addresses the intricate challenge of establishing social discount rates across far-reaching generations, particularly in the face of divergent social viewpoints. We introduce several principles related to Dominant Unanimity, which enable non-dictatorial social discounting, and we characterize different ranges of social discount factors based on individual one-period discount factors. Our findings suggest that societies adhering to these principles exhibit varying degrees of patience and different ranges of social discounting. This approach provides theoretical pathways to enhance the consideration of distant future welfare, particularly in the context of long-term economic activities and policies.

Suggested Citation

  • Dong-Xuan, Bach & Qu, Xiangyu, 2025. "Restricted dominant unanimity and social discounting," Journal of Mathematical Economics, Elsevier, vol. 117(C).
    • Handle: RePEc:eee:mateco:v:117:y:2025:i:c:s0304406825000175
    DOI: 10.1016/j.jmateco.2025.103100
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    References listed on IDEAS

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