Flooded cities

Working paper by Adriana Kocornik-Mina on 15 Dec 2015

Does economic activity relocate away from areas that are at high risk of recurring shocks? We examine this question in the context of floods, which are among the costliest and … read more »

Collective intertemporal choice: time consistency vs. time invariance

Working paper by Antony Millner, Geoffrey Heal on 15 Dec 2015

We study collective choice when individuals have heterogeneous discounted utilitarian preferences. Two attractive properties of intertemporal preferences are indistinguishable for individuals, but have dramatically dierent implications for collective choice. Time … read more »