Hyperbolic discounting and the standard model: Eliciting discount functions

@article{Noor2009HyperbolicDA,
  title={Hyperbolic discounting and the standard model: Eliciting discount functions},
  author={Jawwad Noor},
  journal={J. Economic Theory},
  year={2009},
  volume={144},
  pages={2077-2083}
}
Experiments on static intertemporal choice …nd evidence of particularly extreme impatience toward immediate rewards. While this is often taken as support for hyperbolic discounting, it could also arise because the most likely participants in experiments are also those with the most immediate need for money. We conduct a calibration exercise and …nd that the extreme impatience observed in experiments can be accommodated by a standard exponential discounting model with no discounting and… CONTINUE READING

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