A Path Through the Wilderness: Time Discounting in Growth Models1
نویسندگان
چکیده
Introduction Time is a pervasive element of many economic activities. As Jevons (1888, 64-65) once said: Quantity of supply must necessarily be estimated by the number of units of commodity divided by the number of units in the time over which it is to be expended. ... Consumption of commodity must have the same dimensions. For goods must be consumed in time... . Following out this course of thought we shall arrive at the conclusion that time enters into all economic questions. We live in time, and think and act in time; we are in fact altogether the creatures of time.
منابع مشابه
Time Preference and its Effects on Intertemporal
Time preference has a peculiar role in determining the level of economic activities. Time preferenceis the most important origin of interest rate. In this paper we study the founders and defenders'viewpoints about time preference and then we try to criticize them. It seems that discounting futureutilities is resulting from irrationality and it is ethically indefensible too. From mathematical as...
متن کاملThe Effectiveness of Delayed Discounting Model of Mindfulness-Based Cognitive Therapy on Delayed Reward Discounting, Impulsivity and Sensation Seeking in Individuals with Substance Use Disorders
Objective: The aim of this study was to investigate the effectiveness of delayed discounting model of mindfulness-based cognitive therapy on delayed reward discounting, impulsivity, and sensation seeking in individuals with substance use disorders. Method: This study was a semi-experimental research conducted in the form of pretest-posttest and follow-up stage with control group. The statistica...
متن کاملEconomic Growth as a Nonlinear and Discontinuous Process
Structural changes were the main focus of many studies in recent years. Changes which alter the socio-economic status of a nation from deprived and traditional nature to a developed and modern one. The main hypothesis of this study is that, the economic development does not occur through a regular flow of life (linear fashion), and without resilience, but it certainly needs to pass through a mo...
متن کاملEconomic Order Quantity for Deteriorating Items with Non Decreasing Demand and Shortages Under Inflation and Time Discounting
Some products like green vegetables, volatile liquids and others deteriorate continuously due to evaporation, spoilage etc. In this study, an inventory model is developed for deteriorating items with linearly time dependent demand rate under inflation and time discounting over a finite planning horizon. Shortages are allowed and linearly time dependent. Mathematical model is presented for the p...
متن کاملکاهش ارزش تأخیری و همبستگی آن با چشم انداز زمان در کارورزان رشته پزشکی
AbstractIntroduction: Delay discounting (DD) means prefering small immediate rewards to large delayed rewards. This study was to assess delay discounting and the correlation of our findings with that of the Zimbardo Time Perspective Inventory (ZTPI).Method: In a cross-sectional study, DD and time perspective were investigated in 93 medical interns by means of a computer software and ZTPI. In d...
متن کامل