We have good reasons to expect biological selection to create high discount rates. But why hasn't cultural selection made orgs (nations, religions, firms, etc) with lower discount rates? Why doesn't patience help orgs win wars, business competition, etc? https://www.aeaweb.org/articles?id=10.1257/mic.4.4.172 …
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Replying to @robinhanson
we actually have organizations with very low discount rates. Many foundations for example. Many cultural associations. Accademia della crusca (italian language preservers) for example. The seed bank in norway. Many swiss institutions. Etc
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Replying to @LucioMM1
Wouldn't a low discount org save/invest in future and grow relative to other orgs?
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Replying to @robinhanson
think a foundation doing live-saving works in africa. There is no positive selection per se on their work, unless people that are going to donate share the low discount rates. Also individuals can't verify if they are right afterwards, because they are dead when it happens
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If the org has a low discount rate and can save, it will save a lot. If it isn't allowed to save, not clear what it means to say it has a low discount rate.
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