discounting in favor of constant discount rates and because of the long time horizon, the average discount rate of 1.9% is much …

It has been argued that hyperbolic discounting of future gains and losses leads to time-inconsistent behavior and … future hyperbolically and make time-consistent decisions. This allows us to disentangle the role of discounting from the time … consistency issue. We show that hyperbolically discounting individuals, under a reasonable normalization, invest more in their …

generalized discounting involving both behavioral and normative applications. Our generalized Bellman equation method identifies …-saving with beta-delta discounting and its generalized versions involving magnitude effects, non-additive payoffs, semi …-hyperbolic or hyperbolic discounting (over possibly unbounded state and unbounded above reward space). We also provide an …

We consider a neoclassical growth model with quasi-hyperbolic discounting under Kantian optimization: each temporal …