Purpose: The purpose of this paper is to introduce the main measures of inconsistency in the context of intertemporal choice and to identify the relationships between them (more specifically, the measures by Prelec, Takahashi and Rohde). In effect, Thaler (1981), awarded the Nobel Prize in...

Purpose - The main purpose of this paper is to determine the discount function which better fits the individuals' preferences through the empirical analysis of the different functions used in the field of intertemporal choice. Design/methodology/approach - After an in-depth revision of the...

Purpose: This paper aims to examine the functioning and organizational structure of the historic Andalusian water courts, institutions of Islamic origin whose basic model should be considered in light of the regulation of modern Islamic banking and finance. Design/methodology/approach: The...

Purpose: The purpose of this paper is the analysis of the mortgage prices derived from the increase of defaults and the withdrawal of floor clauses in the mortgages offered by banking institutions in Spain. More specifically, this manuscript focuses on the evolution of the spread applied to...

Purpose: The progressive aging of the population is suggesting that public pension plans should be increasingly supplemented by private savings schemes. Accordingly, this supposes the appearance of a wide range of innovative savings products to meet the varying needs of savers and financial...

The aim of this paper is to generalize the q-exponential discounting function introduced by Cajueiro (2006) [1] using the hyperbolic function as a base. The presented generalization has two aspects. First, we consider any discounting function F(t), and not just hyperbolic discounting. Second,...