Citation:
Gong L, Smith W, Zou H-fu. Consumption and Risk with hyperbolic discounting. Economics Letters. 2007;96:153-160.
摘要:
Hyperbolic discounting is not observationally equivalent to exponential discounting. It is always possible to calibrate an exponential model so that it predicts the same level of consumption as a hyperbolic model. However, the two models have radically different comparative statics.