This paper builds the first calibrated life-cycle simulation model of "hyperbolic" consumers -- whose discount rates decline with horizon, setting up a conflict between a patient long-run self and an …
PublishedClassicJournal of Economic PerspectivesPublished Aug 2001
This 2001 Journal of Economic Perspectives paper by George-Marios Angeletos, David Laibson, Andrea Repetto, Jeremy Tobacman, and Stephen Weinberg -- sourced here from the authors' own underlying 2000 …