resolution of risk, (iii) show different discounting formulas depending on the magnitude of risk and on the timing of its …

assumption of (intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the …

possibly millennia to the future. To reconcile the discounting of such far-distant impacts and realism of the shorter …

) actions, the more weight they receive. If uncertainty is endogenous to the decision process, the new rationale for discounting …

as do the principal and he obtains full property rights to the future returns. With geometric discounting, there would be …-hyperbolic discounting, the optimal subsidy is unrelated to this level. With discount rates that are strictly decreasing in relative time …

effects both in reduced-form as well as in the form of structural estimates of a quasi-hyperbolic discounting function to …

We compare different designs that have been used to test for an impact of time horizon on discounting, using real … declining (hyperbolic) discounting, but with other designs find constant or increasing discounting. As a whole, the data are not … consistent with any of these usual candidate discounting assumptions, and they also imply a violation of transitivity. The …

market. Even though we allow for a general-hyperbolic specification (which has exponential discounting as a special case …