Observational Implications of Non-Exponential Discounting

Stephen Morris and Andrew Postlewaite

Revue économique, 2020, vol. 71, issue 2, 313-321

Abstract: In this note we provide an elementary example with a concave utility function where the essentially unique consistent savings rule is discontinuous; such a savings rule could not arise with exponential discounting. JEL Codes: D01.

Keywords: decision theory; dynamic consistency (search for similar items in EconPapers)
JEL-codes: D01 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (5)

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