Naive Agents with Quasi-hyperbolic Discounting and Perfect Foresight
نویسندگان
چکیده
منابع مشابه
Axiomatization and Measurement of Quasi-hyperbolic Discounting*
This article provides an axiomatic characterization of quasi-hyperbolic discounting and a more general class of semi-hyperbolic preferences. We impose consistency restrictions directly on the intertemporal trade-offs by relying on what we call ‘‘annuity compensations.’’ Our axiomatization leads naturally to an experimental design that disentangles discounting from the elasticity of intertempora...
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Article history: Received 28 January 2008 Available online xxxx JEL classification: C91 D03 D90 In this paper we elicit preferences for money–time pairs via experimental techniques. We estimate a general specification of discounting that nests exponential and hyperbolic discounting, as well as various forms of present bias, including quasi-hyperbolic discounting. We find that discount rates are...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2020
ISSN: 1556-5068
DOI: 10.2139/ssrn.3730379