Intermittent Discounting

Alexis Direr

Working Papers from HAL

Abstract: A novel theory of time discounting is proposed in which future consumption is less valuable than present consumption because of waiting costs. Waiting is intermittent as individuals' attention is periodically distracted away from future gratifications. The more individuals expect to pay attention to the reward, the more they are impatient. The model revisits the fundamental link between short and long-term impatience and solves two behavioral anomalies: impatience over short durations and sub-additive discounting.

Keywords: sub-additive discounting; present bias; short-term impatience; time preference (search for similar items in EconPapers)
Date: 2020-07-19
New Economics Papers: this item is included in nep-cbe and nep-mac
Note: View the original document on HAL open archive server: https://hal.science/hal-02167093v3
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Working Paper: Intermittent Discounting (2019)
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