Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed … discounting is a plausible explanation for choice reversals only if violations of stationarity and time consistency overlap. Our … conclude that when incomes fluctuate, one can only identify hyperbolic discounting by eliciting violations of both stationarity …

preference reversals arecommonly interpreted as contradicting constant discounting. This interpretation is correctonly if … baseline consumption to which the outcomes are added, remains constant over time.The difficulty with measuring discounting when … discounted. In this paper we propose a way to disentangle thetwo effects, which allows us to draw conclusions about discounting …

, effectively defeating the tyranny of discounting. A back-of-the-envelope calibration suggests that this last result is realistic …

Should loss of earnings be compensated? The established law and economics wisdom considers pure economic loss as a … do not amount to a social loss and, hence, should not be compensated. We revisit these arguments and show that the social … loss should be calculated by taking into account that: (a) pure economic loss often involves impairment costs resulting …