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GOLDEN EGGS AND HYPERBOLIC DISCOUNTING* DAVID LAIBSON Hyperbolic discount functions induce dynamically inconsistent preferences, implying a motive for consumers to constrain their own future choices. This paper analyzes
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Document Date: 2006-04-09 03:11:52
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GOLDEN EGGS AND HYPERBOLIC DISCOUNTING* DAVID LAIBSON Hyperbolic discount functions induce dynamically inconsistent preferences, implying a motive for consumers to constrain their own future choices. This paper analyzes