Generalized quasi-geometric discounting

Equilibrium Welfare and Government Policy with Quasi-geometric Discounting

We consider a representative-agent equilibrium model where the consumer has quasi-geometric discounting and cannot commit to future actions. We restrict attention to a parametric class for preferences and technology and solve for time-consistent competitive equilibria globally and explicitly. We then characterize the welfare properties of competitive equilibria and compare them to that of a pla...

The Neoclassical Growth Model with Heterogeneous Quasi-Geometric Consumers

This paper investigates how the assumption of quasi-geometric (hyperbolic) discounting affects the distributional implications of the standard one-sector neoclassical growth model with infinitely lived heterogeneous agents. The agents are subject to idiosyncratic shocks and face borrowing constraints. We confine attention to an interior Markov recursive equilibrium. The consequence of quasi-geo...

Consumption-savings Decisions with Quasi-geometric Discounting by per Krusell

A comparison between Tsallis' statistics-based and generalized quasi-hyperbolic discount models in humans

A comparison between Tsallis' statistics-based and generalized quasi-hyperbolic discount models in humans. Acknowledgements: The research reported in this paper was supported by a grant from the Grant-in-Aid for Scientific Research (" 21st century center of excellence " grant) from the Ministry of Education, Culture, Sports, Science and Technology of Japan, and Yamaguchi endocrinological disord...

Quasi-geometric Discounting: a Closed-form Solution under the Exponential Utility Function

This paper studies a discrete-time utility maximization problem of an infinitely-lived quasi-geometric consumer whose labour income is subject to uninsurable idiosyncratic productivity shocks. We restrict attention to a first-order Markov recursive solution. We show that under the assumption of the exponential utility function, the problem of the quasi-geometric consumer admits a closed-form so...