A sequence of experiments documents static and dynamic ``preference reversals'' between sooner-smaller and later-larger rewards, when the sooner reward could be immediate. The theoretically-motivated design permits separate identification of time-consistent, stationary and time-invariant...

This paper studies the relationships between tourism and economic growth through a dynamic model showing how the time preference affect the investment in a economic sector based on natural resources as tourism. Assuming extreme values, it is possible to verify that a high time preference or...

We address intertemporal utility maximization under a general discount function that nests the exponential discounting and the quasi-hyperbolic discounting cases as particular specifi?cations. The suggested framework intends to capture one important anomaly typically found when addressing the...