Iwasa, Kazumichi; Zhao, Laixun - Institute of Economic Research, Kyoto University - 2013
This paper examines how impatience interacts with inequalities in economic development. In a society of intrinsic inequality, we show that (i) poor households tend to benefit more from positive shocks under decreasing marginal impatience (DMI) than uner constant marginal impatience (CMI) and...