Read, Daniel; Frederick, Shane; Orsel, Burcu; Rahman, … - In: Management Science 51 (2005) 9, pp. 1326-1335
We describe a new anomaly in intertemporal choice---the "date/delay effect": discount rates that are imputed when time is described using calendar dates (e.g., on October 17) are markedly lower than those revealed when future outcomes are described in terms of the corresponding delay (e.g., in...