Several studies have shown that people greatly discount future benefits and costs. However, most of the direct laboratory evidence of this phenomenon has focused on individual choice experiments. This paper investigates the degree to which the timing of payments affects behavior in four commonly...

Several studies have shown that people greatly discount future benefits and costs, but few have examined how discounting is manifested in strategic settings. This paper investigates the degree to which the timing of payments affects behavior in four commonly studied strategic settings: a...