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Abstract: Though economists assume that intertemporal preferences are time-consistent, evidence suggests that a person 's relative preference for well-being at an earlier moment over a later moment increases as the earlier moment gets closer. We explore the behavioral and welfare implications of such time-inconsistent preferences in a simple model where a person must engage in an activity exactly once during some duration. We focus on two sets of distinctions. First, does the activity involve immediate... (Update)
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BibTeX entry: (Update)
O'Donoghue, Ted and Matthew Rabin (1999a). "Doing It Now or Later." American Economic Review 89(1): 103-124. http://citeseer.ist.psu.edu/ted97doing.html More
@misc{ ted-doing,
author = "O. Ted and M. Rabin",
title = "Doing It Now or Later",
text = "O'Donoghue, Ted and Matthew Rabin (1999a). Doing It Now or Later. American
Economic Review 89(1): 103-124.",
url = "citeseer.ist.psu.edu/ted97doing.html" }
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