This paper introduces hyperbolic discounting into politics. In our model, politicians act according to the preferences …-term investments in a given policy area. -- political agency ; hyperbolic discounting ; bureaucracy …

Der Faktor Zeit spielt in der ökonomischen Theorie eine wichtige Rolle - intertemporale Entscheidungen sind in allen …The so-called discounted-utility-model (DU-model) is the gold-standard of economic theory: confronted with …

, including quasi-hyperbolic discounting (Phelps and Pollack (1968) [18]; Laibson (1997) [12]). Finally, the paper provides a …

discounting provides the same present value of a constant infinite income stream as standard exponential discounting, then the … equilibrium rate of economic growth is also the same under both discounting methods. In this sense present-bias and the entailed …