Decreasing Impatience
| Autor: | Chambers, Christopher P., Echenique, Federico, Miller, Alan D. |
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| Rok vydání: | 2021 |
| Předmět: | |
| Druh dokumentu: | Working Paper |
| Popis: | We characterize decreasing impatience, a common behavioral phenomenon in intertemporal choice. Discount factors that display decreasing impatience are characterized through a convexit y axiom for investments at fixed interest rates. Then we show that they are equivalent to a geometric average of generalized quasi-hype rbolic discount rates. Finally, they emerge through parimutuel preference aggregation of exponential discount factors. |
| Databáze: | arXiv |
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