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dc.contributor.authorKang, Minwooken
dc.contributor.authorWang, Leien
dc.identifier.citationKang, M., & Wang, L. (2019). Pareto criterion and long-term perspective criterion under myopic discounting. Economics Bulletin, 39(1), 24-32.en
dc.description.abstractUnder myopic discounting, which encompasses the famous psychological and economics model, hyperbolic discounting preferences, this paper shows that efficiency by the Pareto criterion is a sufficient condition for efficiency by the long-term perspective criterion. This result provides additional justification for Pareto-improving policies under myopic discounting by showing that such policies improve normative preferences as well. As an application of our result, we provide an example of Laibson's Pareto-improving consumption tax.en
dc.format.extent10 p.en
dc.relation.ispartofseriesEconomics Bulletinen
dc.rights© 2019 The Author(s) (published by AccessEcon LLC). This is an open-access article distributed under the terms of the Creative Commons Attribution License.en
dc.subjectPareto Criterionen
dc.subjectLong-term Perspective Criterionen
dc.subjectSocial sciences::Economic developmenten
dc.titlePareto criterion and long-term perspective criterion under myopic discountingen
dc.typeJournal Articleen
dc.contributor.schoolSchool of Social Sciencesen
dc.contributor.schoolSchool of Physical and Mathematical Sciencesen
dc.description.versionPublished versionen
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