Positive Time Preference
Journal of Political Economy
1981
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.
- DOI
- 10.1086/260947
- Volume
- 89 (1)
- Pages
- 1-25
- Language
- en
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- Sources
- crossref openalex