Weikard, Hans-Peter - In: Agrarwirtschaft: Zeitschrift für Betriebswirtschaft, … 50 (2001) 8, pp. 490-497
On the Rationality of Sequential ChoiceThe paper discusses the problem of discounting, time preference, and time consistent decision making. While a constant pure rate of time preference leads to consistent consumption plans, other discounting schemes - like hyperbolic discounting - do not....