BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Talks.cam//talks.cam.ac.uk//
X-WR-CALNAME:Talks.cam
BEGIN:VEVENT
SUMMARY:A Biological Theory of Public Discounting by Prof. Arthur Robson (
 Simon Fraser University)   - Prof. Arthur Robson (Simon Fraser University)
   
DTSTART:20140521T153000Z
DTEND:20140521T163000Z
UID:TALK52706@talks.cam.ac.uk
CONTACT:Cambridge-INET Institute\, Faculty of Economics
DESCRIPTION:We consider a growth model in which intergenerational transfer
 s are made via stocks of private and public capital. Private capital is th
 e outcome of individuals' private savings while decisions regarding public
  capital are made collectively. We hypothesize that private saving choices
  evolve through individual selection while public saving decisions are the
  result of group selection. The main result of the paper is that the equil
 ibrium rate of return to private capital is at least 2-3% more than the ra
 te of return to public capital. In other words\, social choices involving 
 intertemporal trade-offs exhibit much more patience than individual choic
 es do.
LOCATION:Keynes Room\, Faculty of Economics\, Cambridge
END:VEVENT
END:VCALENDAR