The economics of impatience
AbstractIn 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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Bibliographic InfoPaper provided by EconWPA in its series Experimental with number 0305001.
Length: 4 pages
Date of creation: 07 May 2003
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Note: Type of Document - pdf; pages: 4
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Find related papers by JEL classification:
- D90 - Microeconomics - - Intertemporal Choice - - - General
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- 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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