In this paper, we analyse and construct a lifetime utility maximisation model with hyperbolic discounting. Within the … (exponential discounting). We find: (1) investors (realistically) demand more life insurance after retirement (in contrast to the …

the resource). In a discrete-time quasihyperbolic discounting framework with no commitment device, and using only generic …

contribute to our understanding of these issues by postulating a model of income uncertainty within a hyperbolic discounting …/value In traditional exponential discounting, the marginal rate of substitution of consumption between two points depends only …, hyperbolic discounting better fits the data. The authors model choice under uncertainty and focus on the costs caused when …