Title of article :
Generalized quasi-geometric discounting
Author/Authors :
Eric R. Young، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2007
Abstract :
This paper derives the ‘generalized Euler equation’ for an agent with multi-period deviations from geometric discounting. The functional equation that describes optimal consumption-savings decisions involves manipulation of future selves and indirect manipulation of more distant selves through intervening selves
Keywords :
Hyperbolic discounting , quasi-geometric discounting , Time-inconsistent preferences
Journal title :
Economics Letters
Journal title :
Economics Letters
