Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/150092
Authors: 
Ok, Efe A.
Benoît, Jean-Pierre
Year of Publication: 
2007
Citation: 
[Journal:] Theoretical Economics [ISSN:] 1555-7561 [Volume:] 2 [Year:] 2007 [Issue:] 1 [Pages:] 71-113
Abstract: 
We address the following question: When can one person properly be said to be more delay averse than another? In reply, several (nested) comparison methods are developed. These methods yield a theory of delay aversion which parallels that of risk aversion. The applied strength of this theory is demonstrated in a variety of dynamic economic settings, including the classical optimal growth and tree cutting problems, repeated games, and bargaining. Both time-consistent and time-inconsistent scenarios are considered.
Subjects: 
Delay aversion
impatience
consumption smoothing
time consistency
JEL: 
D11
D90
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/2.5
Document Type: 
Article

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