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Journal ArticleDOI

The mathematical theory of saving

Frank Plumpton Ramsey
- 01 Dec 1928 - 
- Vol. 38, Iss: 152, pp 543-559
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Abstract
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Journal ArticleDOI

Rawlsian Growth: Dynamic Programming of Capital and Wealth for Intergeneration “Maximin” Justice

TL;DR: In this paper, the authors discuss the Ramsey-Weizsacker model of utilitarian accumulation, which closely resembles Fisher's theory of household saving under zero time preference, and discuss the necessary consumption restraint will require the austerity of budgetary surpluses.
Journal ArticleDOI

Linear models of economic survival under production uncertainty

TL;DR: In this paper, the authors consider the situation of an investor facing uncertainty, and whose objective is to survive, and characterize the probability of survival of a passive agent who does not attempt to influence the evolution of the environment.
Journal ArticleDOI

The aggregation of preferences: can we ignore the past?

TL;DR: In this article, it was shown that a Paretian social welfare function can be history independent and time consistent only if a stringent set of conditions is verified, and that the conditions are unlikely to be met by individual preferences.
Book ChapterDOI

How to Spend $50 Billion to Make the World a Better Place: Meeting the Challenge of Global Warming

TL;DR: In this paper, the Copenhagen Consensus initiative of Denmark's National Environmental Assessment Institute examines the issue area of abatement of greenhouse gas emissions to limit future damage from global warming, and three policy strategies are evaluated: an optimal, globally-coordinated carbon tax; b) the Kyoto Protocol; and c) a value-at-risk strategy setting carbon taxes to limit exposure to high damage.