For each of the three decision problems in Table 8.3, compute d on the assumption that a person is indifferent between a and b at time zero.

Table 8.3 Time-discounting problems t 5 0 t 5 1 a

b 3

5 4

1

(a)

t 5 0 t 5 1 t 5 2 a

b 6

3 1

4 t 5 0 t 5 1 t 5 2 a

b 1

1 5

(b) (c)