ISOLATION, ASSURANCE AND THE SOCIAL RATE OF DISCOUNT

SOME OF THE RECENT DISCUSSIONS ON THE RELATIONSHIP BETWEEN PRIVATE AND SOCIAL RATES OF DISCOUNT HAVE BEEN CONCERNED WITH A SPECIAL INSTANCE OF A VERY GENERAL PROBLEM BEING AN EXTENSION OF THE TWO-PERSON NON-ZERO-SUM GAME KNOWN AS THE PRISONERS' DILEMMA. IN THE FIRST SECTION OF THIS PAPER THE GENERAL NATURE OF THIS PROBLEM IS STUDIED, AND IT IS SHOWN THAT THERE IS ANOTHER PROBLEM CLOSE TO THIS ONE WITH WHICH IT IS SOMETIMES CONFUSED, BUT WHICH HAS A VERY DIFFERENT LOGICAL STRUCTURE AND INVOLVES DIFFERENT POLICY IMPLICATIONS. IN THE REMAINING THREE SECTIONS THE APPLICATION OF THIS GENERAL FRAMEWORK TO THE QUESTION OF OPTIMUM SAVINGS AND THE SOCIAL RATE OF DISCOUNT IS EXAMINED. /AUTHOR/

  • Availability:
  • Supplemental Notes:
    • Vol 81, pp 112-124
  • Corporate Authors:

    N/A

    ,   United States 
  • Authors:
    • Sen, A K
  • Publication Date: 1967-2

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Filing Info

  • Accession Number: 00201373
  • Record Type: Publication
  • Source Agency: Traffic Systems Reviews & Abstracts
  • Files: TRIS
  • Created Date: Jun 24 2003 12:00AM