To make high-quality research more accessible and easier to explore.

Fields:
2 results ✕ Clear filters

Positive Time Preference

Mancur Olson; Martin J. Bailey
Journal of Political Economy 1981 89(1), 1-25
The case for positive time preference is absolutely compelling, unless there is an infinite time horizon with the expectation of unending technological advance combined with what we call "drastically diminishing marginal utility." This finding holds both in the positive and normative senses. A corollary is that savings are interest elastic.

Positive Time Preference

Mancur Olson; Martin J. Bailey
Journal of Political Economy 1981 89(1), 1-25
The case for positive time preference is absolutely compelling, unless there is an infinite time horizon with the expectation of unending technological advance combined with what we call "drastically diminishing marginal utility." This finding holds both in the positive and normative senses. A corollary is that savings are interest elastic.