17.12 Hyperbolic discounting The notion that people might be shortsighted was formalized by David Laibson in Golden
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17.12 Hyperbolic discounting The notion that people might be "shortsighted" was formalized by David Laibson in "Golden Eggs and Hyperbolic Discounting" (Quarterly Journal of Economics, May 1997, pp. 443-477). In this paper the author hypothesizes that individuals maximize an intertemporal utility function of the form utility U(c)+B8U() where 0
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Related Book For 
Microeconomic Theory Basic Principles And Extensions
ISBN: 9780324585377
10th Edition
Authors: Walter Nicholson, Christopher M. Snyder
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