Teaching Time Preference and Human Impatience: The Billionaire Game
AbstractThe Billionaire Game involves students in discussing time preference, or what Fisher (1930) calls human impatience. The game can facilitate the introduction of the material on present value and discounting or discussions on such issues as investment in human capital and the intertemporal consumption-saving decision. Thus, the game can facilitate discussions in a number of economics courses.
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Bibliographic InfoPaper provided by University of Connecticut, Department of Economics in its series Working papers with number 1996-01.
Length: 14 pages
Date of creation: Dec 1996
Date of revision:
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- Champ,Bruce & Freeman,Scott & Haslag,Joseph, 2011.
"Modeling Monetary Economies,"
Cambridge University Press, number 9780521177009, October.
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