Intertemporal choice – toward an integrative framework

  title={Intertemporal choice – toward an integrative framework},
  author={G. Berns and David Laibson and G. Loewenstein},
  journal={Trends in Cognitive Sciences},
  • G. Berns, David Laibson, G. Loewenstein
  • Published 2007
  • Psychology, Medicine
  • Trends in Cognitive Sciences
  • Intertemporal choices are decisions with consequences that play out over time. These choices range from the prosaic--how much food to eat at a meal--to life-changing decisions about education, marriage, fertility, health behaviors and savings. Intertemporal preferences also affect policy debates about long-run challenges, such as global warming. Historically, it was assumed that delayed rewards were discounted at a constant rate over time. Recent theoretical and empirical advances from economic… CONTINUE READING
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