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Date
4 mars 2021
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- 2103.03290
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Economics - Theoretical EconomicsSujets proches
Bank discount Discount rateCiter ce document
Christopher P. Chambers et al., « Decreasing Impatience », arXiv - économie
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We characterize decreasing impatience, a common behavioral phenomenon in intertemporal choice. Discount factors that display decreasing impatience are characterized through a convexit y axiom for investments at fixed interest rates. Then we show that they are equivalent to a geometric average of generalized quasi-hype rbolic discount rates. Finally, they emerge through parimutuel preference aggregation of exponential discount factors.