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The economics of impatience

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Author Info

  • Ernst Fehr

    (University of Zuerich)

Abstract

In experiments, animals often prefer smaller, immediate rewards over larger rewards that are deferred — thus failing to maximize their total gain. Many people exhibit similar behaviour.

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File URL: http://128.118.178.162/eps/exp/papers/0305/0305001.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Experimental with number 0305001.

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Length: 4 pages
Date of creation: 07 May 2003
Date of revision:
Handle: RePEc:wpa:wuwpex:0305001

Note: Type of Document - pdf; pages: 4
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Web page: http://128.118.178.162

Related research

Keywords: economics; impatience;

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Cited by:
  1. Stephan Meier & Charles Sprenger, 2007. "Impatience and credit behavior: evidence from a field experiment," Working Papers 07-3, Federal Reserve Bank of Boston.

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