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Suppose a consumer has $100 today and he tells you he is willing to wait X amount of time for another $50. The same consumer
Suppose a consumer has $100 today and he tells you he is willing to wait X amount of time for another $50. The same consumer also tells you that in the future if he has $100 he is willing to wait Y amount of time for another $50. If Y is greater than X, does the individual exhibit hyperbolic discounting, exponential discounting, or is there not enough information to determine?
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