This paper presents a strategic growth model with endogenous time preference. Due to the potential lack of concavity and the differentiability of the value functions associated with each agent’s problem, we employ the theory of monotone comparative statics and supermodular games based on order...

Abstract This paper studies the dynamic implications of the endogenous rate of time preference depending on the stock of capital, in a one-sector growth model. The planner's problem is presented and the optimal paths are characterized. We prove that there exists a critical value of initial...