In his recent paper entitled “How Loyalty Discounts Can Perversely Discourage Discounting,” Professor Einer Elhauge …

and combining those signals with priors to form posteriors. These posterior expectations exhibit as-if discounting: agents … forecasting (e.g., those with more intelligence) exhibit less discounting. Agents with more domain-relevant experience exhibit … less discounting. Older agents exhibit less discounting (except those with cognitive decline). Agents who are encouraged to …

Many discounting choices affect both the decision maker as well as others. The interpersonal nature of these choices is …

A novel theory of time discounting is proposed in which future consumption is less valuable than present consumption … sub-additive discounting …

, not only because they can impair rival efficiency, but because loyalty discounts perversely discourage discounting even …

uncertainty by a measure of confidence. Special cases of the model comprise discounting under smooth ambiguity aversion as well as … discounting under a disentanglement of risk aversion from aversion to intertemporal substitution. The paper characterizes the … of the Ramsey discounting formula that takes into account confidence into future growth estimates and a measure of …