-bias-such as hyperbolic discounters who tend to over-consume will be in favor of having a floor imposed on their savings. In this … paper, I show it is quite difficult for the introduction of a savings floor to be Pareto-improving in general equilibrium … individuals. Even in that case, because the equilibrium interest rate is affected by the level of the savings floor, some …

, good-specific discounting, under certain conditions, can explain the persistence of poverty and low savings by the poor … corresponding demand for commitment can be observed even if individuals do not exhibit horizon-specific discounting. In addition …

: hyperbolic discounting and short planning horizons. We show that, in contrast to the commonly accepted argument, in general … (except for the special case of logarithmic utility) a model with hyperbolic discounting is not observationally equivalent to … one with exponential discounting. We also show that our framework implies a hump-shaped saving rate dynamics that is …