choice. These rates differ because of two countervailing effects: (1) the individual applies quasi-hyperbolic discounting to …

Hyperbolic discounting with naiveté is widely believed to provide a better explanation than exponential discounting of …

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 …

)actions, the more weight they receive. If uncertainty is endogenous to the decision process, the new rationale for discounting will … preference ; discounting ; uncertainty ; expected utility ; recursive utility ; risk aversion ; intertemporal substitutability …

market. Even though we allow for a general-hyperbolic specification (which has exponential discounting as a special case … specification) of 8 %. -- present bias ; hyperbolic discounting ; discount rate ; hedonic estimation …

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

cycle. Decreasing discounting helps a canonical life-cycle model to explain the household saving puzzles of undersaving when … young and oversaving after retirement. Relative to the model with constant discounting, the model’s fit to consumption and …

discounting of money has been questioned as a measure of time preferences, it continues to be highly relevant in empirical …. We provide evidence that hyperbolic discounting reflects mistakes that are driven by the complexity of evaluating delayed …