Dynamic public good provision under time preference heterogeneity
Philip Trammell (Global Priorities Institute and Department of Economics, University of Oxford)
GPI Working Paper No. 9-2021
I explore the implications of time preference heterogeneity for the private funding of public goods. The assumption that players use a common discount rate is knife-edge: relaxing it yields substantially different equilibria, for two reasons. First, time preference heterogeneity motivates intertemporal polarization, analogous to the polarization seen in a static public good game. In the simplest settings, more patient players spend nothing early in time and less patient players spending nothing later. Second, and consequently, time preference heterogeneity gives less patient players a “first-mover advantage”. Departures from the common-discounting assumption are economically significant: a patient player’s payoff in equilibrium, relative to that obtained when he is constrained to act according to a higher discount rate, typically grows unboundedly as his share of the initial budget falls to zero. Finally I discuss applications of these results to the debate over legal disbursement minima.
Other working papers
Consciousness makes things matter – Andrew Y. Lee (University of Toronto)
This paper argues that phenomenal consciousness is what makes an entity a welfare subject, or the kind of thing that can be better or worse off. I develop and motivate this view, and then defend it from objections concerning death, non-conscious entities that have interests (such as plants), and conscious subjects that necessarily have welfare level zero. I also explain how my theory of welfare subjects relates to experientialist and anti-experientialist theories of welfare goods.
Towards shutdownable agents via stochastic choice – Elliott Thornley (Global Priorities Institute, University of Oxford), Alexander Roman (New College of Florida), Christos Ziakas (Independent), Leyton Ho (Brown University), and Louis Thomson (University of Oxford)
Some worry that advanced artificial agents may resist being shut down. The Incomplete Preferences Proposal (IPP) is an idea for ensuring that does not happen. A key part of the IPP is using a novel ‘Discounted Reward for Same-Length Trajectories (DReST)’ reward function to train agents to (1) pursue goals effectively conditional on each trajectory-length (be ‘USEFUL’), and (2) choose stochastically between different trajectory-lengths (be ‘NEUTRAL’ about trajectory-lengths). In this paper, we propose…
Critical-set views, biographical identity, and the long term – Elliott Thornley (Global Priorities Institute, University of Oxford)
Critical-set views avoid the Repugnant Conclusion by subtracting some constant from the welfare score of each life in a population. These views are thus sensitive to facts about biographical identity: identity between lives. In this paper, I argue that questions of biographical identity give us reason to reject critical-set views and embrace the total view. I end with a practical implication. If we shift our credences towards the total view, we should also shift our efforts towards ensuring that humanity survives for the long term.