Hyperbolic discounting of the far-distant future
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DOI: 10.1016/j.econlet.2017.03.031
Abstract: We prove an analogue of Weitzman’s (1998) famous result that an exponential discounter who is uncertain of the appropriate exponential discount rate should discount the far-distant future using the lowest (i.e., most patient) of the… read more here.
Keywords: discount; discounting far; far distant; hyperbolic discounting ... See more keywords