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Hyperbolic Discounting can represent Consistent Preferences

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  • Nicola Dimitri

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Abstract

Among non Exponential Discounting (ED) models, introduced to capture time inconsistent choices, Hyperbolic Discounting (HD) recently gained particular relevance. This paper points out that, for some particular payoff structures, HD can also represent consistent preferences

Suggested Citation

  • Nicola Dimitri, 2005. "Hyperbolic Discounting can represent Consistent Preferences," Department of Economics University of Siena 466, Department of Economics, University of Siena.
  • Handle: RePEc:usi:wpaper:466
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    File URL: http://repec.deps.unisi.it/quaderni/466.pdf
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    References listed on IDEAS

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    1. R. A. Pollak, 1968. "Consistent Planning," Review of Economic Studies, Oxford University Press, vol. 35(2), pages 201-208.
    2. R. H. Strotz, 1955. "Myopia and Inconsistency in Dynamic Utility Maximization," Review of Economic Studies, Oxford University Press, vol. 23(3), pages 165-180.
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    Cited by:

    1. Orlando Gomes & Alexandra Ferreira-Lopes & Tiago Sequeira, 2014. "Exponential discounting bias," Journal of Economics, Springer, vol. 113(1), pages 31-57, September.

    More about this item

    Keywords

    Time Consistency; Hyperbolic Discounting;

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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