Time Discounting and Time Preference: A Critical Review

Volume: 40, Issue: 2, Pages: 351 - 401
Published: Jun 1, 2002
Abstract
This paper discusses the discounted utility (DU) model: its historical development, underlying assumptions, and anomalies - the empirical regularities that are inconsistent with its theoretical predictions. We then summarize the alternate theoretical formulations that have been advanced to address these anomalies. We also review three decades of empirical research on intertemporal choice, and discuss reasons for the spectacular variation in...
Paper Details
Title
Time Discounting and Time Preference: A Critical Review
Published Date
Jun 1, 2002
Volume
40
Issue
2
Pages
351 - 401
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