Teaching Time Preference and Human Impatience: The Billionaire Game
Stephen Miller ()
No 1996-01, Working papers from University of Connecticut, Department of Economics
The Billionaire Game involves students in discussing time preference, or what Fisher (1930) calls human impatience. The game can facilitate the introduction of the material on present value and discounting or discussions on such issues as investment in human capital and the intertemporal consumption-saving decision. Thus, the game can facilitate discussions in a number of economics courses.
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