On Negative Time Preference

Negative Time Preference

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Negative Time Preference

Time Preference and its Effects on Intertemporal

Time preference has a peculiar role in determining the level of economic activities. Time preferenceis the most important origin of interest rate. In this paper we study the founders and defenders'viewpoints about time preference and then we try to criticize them. It seems that discounting futureutilities is resulting from irrationality and it is ethically indefensible too. From mathematical as...

On the Evolution of Time Preference

We reexamine Rogers’ (1994) analysis of the biological basis of the rate of time preference. Although his basic insight concerning the derivation of the felicity function holds up, the functional form he uses does not generate the evolutionary equilibrium behavior. Moreover, Rogers relies upon an interior solution for a particular kind of intergenerational transfer. We show such interior soluti...

Time preference, time discounting, and smoking decisions.

This study examines the relationship between time discounting, other sources of time preference, and choices about smoking. Using a survey fielded for our analysis, we elicit rates of time discount from choices in financial and health domains. We also examine the relationship between other determinants of time preference and smoking status. We find very high rates of time discount in the financ...