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PURE TIME PREFERENCE IN INTERTEMPORAL WELFARE ECONOMICS

机译:跨时期福利经济学中的纯时间偏好

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摘要

Several areas of welfare economics seek to evaluate states of affairs as a function of interpersonally comparable individual utilities. The aim is to map each state of affairs onto a vector of individual utilities, and then to produce an ordering of these vectors that can be represented by a mathematical function assigning a real number to each. When this approach is used in intertemporal contexts, a central theoretical question concerns the rate of pure time preference, i.e. the evaluative weight to be applied to utility coming at different times. This article criticizes the standard philosophical account of pure time preference, arguing that it ascribes to economists a methodological commitment they need not accept. The article then evaluates three further objections to pure time preference, concluding that it might still be defensible under certain circumstances. I close by articulating a final argument that, if sound, would constitute a decisive objection to pure time preference as it currently figures in much intertemporal welfare economics.
机译:福利经济学的几个领域试图根据人际可比的个人效用来评估事务状态。目的是将每个事务状态映射到各个实用程序的向量上,然后生成这些向量的排序,这些排序可以由为每个函数分配实数的数学函数表示。当这种方法在跨时环境中使用时,一个中心的理论问题涉及纯时间偏好的比率,即应用于不同时间的效用的评估权重。本文批评纯时间偏好的标准哲学解释,认为它给经济学家们以一种他们不需要接受的方法论上的承诺。然后,本文评估了对纯时间优先权的另外三个反对意见,认为在某些情况下它仍然可以辩护。在结束发言时,我最后提出一个论点,即如果声音合理,它将构成对纯时间偏好的决定性反对,因为它在许多跨时代的福利经济学中都得到了体现。

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