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Purpose: The purpose of this paper is to introduce the main measures of inconsistency in the context of intertemporal choice and to identify the relationships between them (more specifically, the measures by Prelec, Takahashi and Rohde). In effect, Thaler (1981), awarded the Nobel Prize in...
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hyperbolic discounting (a behavior that consists of impatience now but projected patience in the future). By incorporating both … graduates indicate that emerging adults are more likely to exhibit hyperbolic discounting behavior than adults over the age of … discounting behavior. Recognizing demographic trends is critical since studies show that hyperbolic discounting affects financial …
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Intertemporal tradeoffs play a key role in many personal decisions and policy questions. We describe models of intertemporal choice, identify empirical regularities in choice, and pose new questions for research. The focus for intertemporal choice research is no longer whether the exponential...
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