Discounting and the Time Preference Rate
نویسندگان
چکیده
منابع مشابه
Discounting and the Time Preference Rate∗
This paper provides an analytical review of the evaluation of alternative time streams of consumption and the closely related concept of time preference. The potential sensitivity of comparisons, especially to the choice of time preference rate and elasticity of marginal valuation, is demonstrated. The nature of time preference, based on an axiomatic approach, is then discussed. The analysis of...
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Acknowledgements: We thank John McMillan, David Laibson, Colin Camerer, Nachum Sicherman, Duncan Simester, and three anonymous referees for useful comments. We thank Cara Barber, Rosa Blackwood, Mandar Oak, and Rosa Stipanovic for research assistance. For financial support, Frederick and Loewenstein thank the Integrated Study of the Human Dimensions of Global Change at Carnegie Mellon Universit...
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ژورنال
عنوان ژورنال: Economic Record
سال: 2008
ISSN: 0013-0249,1475-4932
DOI: 10.1111/j.1475-4932.2008.00450.x