Decreasing Impatience

• Tác giả: Christopher P Chambers, Federico Echenique, Alan D Miller
• Ngôn ngữ: eng
• Ký hiệu phân loại: 152.47 Anger
• Thông tin xuất bản: 2021
• Bộ sưu tập: Metadata
• ID: 166458

Tóm tắt

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.