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per cent per annum. We will call this rate of pure time (ρ) were 5 per cent per annum. If he now cut down his consumption per cent per annum (ρ = 5 per cent p.a.) it per cent gain on his consumption between this year and this year) simply to offset his He will raise his consumption at a
DOI link for per cent per annum. We will call this rate of pure time (ρ) were 5 per cent per annum. If he now cut down his consumption per cent per annum (ρ = 5 per cent p.a.) it per cent gain on his consumption between this year and this year) simply to offset his He will raise his consumption at a
per cent per annum. We will call this rate of pure time (ρ) were 5 per cent per annum. If he now cut down his consumption per cent per annum (ρ = 5 per cent p.a.) it per cent gain on his consumption between this year and this year) simply to offset his He will raise his consumption at a
discounting future utilities, simply because they are to be enjoyed in what is still the future. This is something quite different from (i) preferring $100 of income now rather than in the future because present income can be accumulated at a positive rate of interest to build up a larger income in the future or (ii) preferring an additional
Edition 1st Edition
First Published 1968
Imprint Routledge
Pages 1
eBook ISBN 9780203106594