American Economic Journal: Microeconomics
no. 3, August 2023
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.
Chambers, Christopher P., Federico Echenique, and Alan D. Miller.
American Economic Journal: Microeconomics,
Intertemporal Household Choice; Life Cycle Models and Saving
Allocative Efficiency; Cost-Benefit Analysis
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making