Kotsogiannis, Christos; Schwager, Robert - In: Canadian Journal of Economics/Revue canadienne d'économique 55 (2022) 3, pp. 1480-1506
Quasi‐hyperbolic discounted preferences imply that consumers overemphasize immediate current rewards and overlook future ones (they have a “bias for the present”). Within this context the literature has emphasized that the misalignment between immediate and future rewards can be rectified...