Chambers, C.P. Echenique, F. and Miller, A.D.
Decreasing impatience
- American Economic Journal: Microeconomics
- 15(3), Aug, 2023: p.527-551
We characterize decreasing impatience, a common behavioral phenomenon in intertemporal choice. Discount factors that display decreasing impatience are characterized through a convexity axiom for investments at fixed interest rates. Then we show that they are equivalent to a geometric average of generalized quasi-hyperbolic discount rates. Finally, they emerge through parimutuel preference aggregation of exponential discount factors.- Reproduced
https://www.aeaweb.org/articles?id=10.1257/mic.20210361