Article ID Journal Published Year Pages File Type
5061194 Economics Letters 2010 4 Pages PDF
Abstract

We axiomatize decreasing impatience (DI) in a discrete-time setting, as originally discussed by Prelec, and formulate a class of recursively-defined discounting functions that conform to DI. The recursive formulation is used to analyze the Ramsey growth problem using dynamic programming techniques.

Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
“Hyperbolic” discounting: A recursive formulation and an application to economic growth
Authors
, ,