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Complexity and Hyperbolic Discounting
SSRN Electronic Journal, 2023A large literature shows that people discount financial rewards hyperbolically instead of exponentially. While discounting of money has been questioned as a measure of time preferences, it continues to be highly relevant in empirical practice and predicts a wide range of real-world behaviors, creating a need to understand what generates the hyperbolic ...
Enke, Benjamin +2 more
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Uncertainty and Hyperbolic Discounting [PDF]
American Economic Review, 2005 We propose an evolutionary explanation for the pattern of intertemporal preference reversals often ascribed to "hyperbolic discounting." We take the view that preferences—manifested, for example, in urges, cravings, and inclinations— are the outcome of evolutionary forces, and so will induce animals or humans to make survival-maximizing choices in ...
Partha Dasgupta, Eric Maskin
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Rationalizing hyperbolic discounting
Journal of Economic Behavior & Organization, 1999Abstract We show that if agents are uncertain about their discount rates it may be rational for them to discount the distant future hyperbolically rather than exponentially. Our findings thus may rationalize a common observation in experimental work, which indicates that people discount the future at hyperbolic rates.
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Hyperbolic discounting and fertility
Journal of Population Economics, 2009This paper analyzes the impact of hyperbolic discounting on the timing and on the number of births. Using a simple three-period model, it shows that, without the opportunity to shift the burden of rearing children into the future, hyperbolic discounters will give birth to fewer children.
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2010
Time preferences are at the very core of every intertemporal decision models. However, most economic models equate time preferences exponential discounting. The first part of the present thesis gives an axiomatic derivation of time preferences in general, reviews selected types of alternatives to exponential discounting and assesses their empirical ...
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Time preferences are at the very core of every intertemporal decision models. However, most economic models equate time preferences exponential discounting. The first part of the present thesis gives an axiomatic derivation of time preferences in general, reviews selected types of alternatives to exponential discounting and assesses their empirical ...
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Job Search and Hyperbolic Discounting
SSRN Electronic Journal, 2001We propose a simple test of hyperbolic versus exponential preferences in a job search model. More impatient workers search less intensively but also accept lower wages. If agents have hyperbolic preferences, the search effect dominates, so increases in impatience lead to lower exit rates from unemployment. The opposite is generally true for agents with
Stefano DellaVigna, M. Daniele Paserman
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Is Time-Discounting Hyperbolic or Subadditive?
Journal of Risk and Uncertainty, 2001zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Disability Risk and Hyperbolic Discounting [PDF]
Economics Bulletin, 2015 This paper presents a model where the ability to enjoy consumption gets impaired by disabilities over time. A continuous-time Markov chain model is constructed to examine how disability risk affects consumers' discounting of future utilities. It is shown that hyperbolic discounting arises for all future periods when disabilities occur independently ...
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Overlapping generations under hyperbolic discounting
2019Hyperbolic discounting has been argued to inevitably lead to time-inconsistent behaviour.
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