in the direction of “hyperbolic” or quasi-hyperbolic discounting. That is, individuals have a steeper discount rate for a … new task, many subjects exhibit “hypobolic” discounting, the opposite of the standard finding. This result does not appear … to be a consequence of payout risk. The result suggests that hyperbolic discounting may be subject to the framing of …

. The main problem in the theory of discounting is that “an economist who knows the literature well” is “able to justify any … public projects, discount rate is the central issue. Yet, there is little clear understanding about the nature of discounting … reasonable social discount rate by some internally consistent story”. In this paper, applying a newly developed production theory …

efficiency, but also because loyalty discounts can perversely discourage discounting even when they have no effect on rival …

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 …

multi-curve discounting (MCD) method, where the discount curve depends on the liquidity horizon of the asset. The difference … between the value of an asset using OIS discounting and a discount curve referencing the liquidity horizon can be interpreted …

Derivative pricing is about cash flow discounting at the riskfree rate. This teaching has lost its meaning post the …

preference reversal. Here we propose a model of discounting, consistent with standard axioms of choice, in which decision makers … maximize the growth rate of their wealth. Four specifications of the model produce four forms of discounting - no discounting …

current income is less than the long-run average by a certain margin, exhibit hyperbolic discounting. The discount rate of …