Strotz Meets Allais: Diminishing Impatience and the Certainty Effect: Comment
2011 ◽
Vol 101
(5)
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pp. 2271-2275
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Halevy (2008) states the equivalence between diminishing impatience (i.e., quasi–hyperbolic discounting) and the common ratio effect. The present paper shows that one way of the equivalence is false and shows the correct and general relationships: diminishing impatience is equivalent to the certainty effect and that strong diminishing impatience (i.e., hyperbolic discounting) is equivalent to the common ratio effect. JEL: D81
2019 ◽
Vol 93
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pp. 102283
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2020 ◽
Vol 2
(1)
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pp. 1-16
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Keyword(s):
2014 ◽
Vol 48
(1)
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pp. 19-49
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1989 ◽
Vol 2
(2)
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pp. 159-178
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Keyword(s):
1998 ◽
Vol 108
(450)
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pp. 1362-1380
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1992 ◽
Vol 19
(2)
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pp. 213-235
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