High-income consumers may be less hyperbolic when discounting the future

@inproceedings{Silva2017HighincomeCM,
  title={High-income consumers may be less hyperbolic when discounting the future},
  author={S{\'e}rgio Ferreira da Silva and Dinor{\~A}¡ De Faveri and Ana Mar{\'i}a Piedrahita Correa and Raul Matsushita},
  year={2017}
}
We investigate to what extent high-income consumers are less hyperbolic than low-income consumers using a sample of 216 bank customers and 796 undergraduates. We assess whether participants who scored lower on a test of cognitive ability were also those who tended to discount the future hyperbolically. Our problem is then to find whether lower cognitive ability translates into hyperbolic discounting. The students had higher implicit discount rates, i.e. they were more hyperbolic, for both low… CONTINUE READING

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