Add to ORKGInternational audienceUsing dynamic programming methodology, the paper analyzes the most general conditions for an additive utility functional to represent time consistent preferences. It challenges the conventional wisdom of the domain, which, following Strotz(1956), assume that only exponential discounting is compatible with time consistent behavior. The paper gives some examples of special time consistent hyperbolic discount functions and also discuss the relation between time consistency and stationarity
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...
International audienceUsing dynamic programming methodology, the paper analyzes the most general con...
International audienceUsing dynamic programming methodology, the paper analyzes the most general con...
International audienceUsing dynamic programming methodology, the paper analyzes the most general con...
International audienceUsing dynamic programming methodology, the paper analyzes the most general con...
htmlabstractTime discounting is the phenomenon that a desired result in the future is perceived as ...
Time discounting is the phenomenon that a desired result in the future is perceived as less valuable...
Abweichender Titel nach Übersetzung der Verfasserin/des VerfassersHyperbolic discounting has been ar...
© The Author(s) 2010. This article is published with open access at Springerlink.com Abstract Many s...
This paper reexamines the time consistency of discount functions as analyzed by Strotz (1956) and Ko...
textabstractMany studies have found that discounting is hyperbolic rather than constant. Hyperbolic ...
A well-known common agreement in decision theory is that only exponential decision makers are time c...
A well-known common agreement in decision theory is that only exponential decision makers are time c...
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...
International audienceUsing dynamic programming methodology, the paper analyzes the most general con...
International audienceUsing dynamic programming methodology, the paper analyzes the most general con...
International audienceUsing dynamic programming methodology, the paper analyzes the most general con...
International audienceUsing dynamic programming methodology, the paper analyzes the most general con...
htmlabstractTime discounting is the phenomenon that a desired result in the future is perceived as ...
Time discounting is the phenomenon that a desired result in the future is perceived as less valuable...
Abweichender Titel nach Übersetzung der Verfasserin/des VerfassersHyperbolic discounting has been ar...
© The Author(s) 2010. This article is published with open access at Springerlink.com Abstract Many s...
This paper reexamines the time consistency of discount functions as analyzed by Strotz (1956) and Ko...
textabstractMany studies have found that discounting is hyperbolic rather than constant. Hyperbolic ...
A well-known common agreement in decision theory is that only exponential decision makers are time c...
A well-known common agreement in decision theory is that only exponential decision makers are time c...
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...
Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hype...