Zielonka, Piotr; Sawicki, Przemyslaw; Weron, Rafal - Hugo Steinhaus Center for Stochastic Methods, … - 2009
The paper presents empirical results on the discounting of delayed payoffs which show that: (1) the best approximation of the discounting process is a hyperbolic function, (2) (both animals and humans) can reverse their preferences in time. The article presents theoretical conditions on the...
