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T-Space at The University of Toronto Libraries >
Theoretical Economics >
Volume 2, Number 1 (March 2007) >

Please use this identifier to cite or link to this item: http://hdl.handle.net/1807/9576

Title: Delay aversion
Authors: Jean-Pierre Benoit; London Business School
Efe A. Ok; New York University
Keywords: Delay aversion, impatience, consumption smoothing, time consistency
D11, D90
Issue Date: 1-Mar-2007
Publisher: Theoretical Economics
Citation: Theoretical Economics; Vol 2, No 1 (2007); 71-113
Abstract: [This item is a preserved copy. To view the original, visit http://econtheory.org/] We address the following question: When can one person properly be said to be more delay averse than another? In reply, several (nested) comparison methods are developed. These methods yield a theory of delay aversion which parallels that of risk aversion. The applied strength of this theory is demonstrated in a variety of dynamic economic settings, including the classical optimal growth and tree cutting problems, repeated games, and bargaining. Both time-consistent and time-inconsistent scenarios are considered.
URI: http://hdl.handle.net/1807/9576
Other Identifiers: http://econtheory.org/ojs/index.php/te/article/view/20070071
Rights: Authors who publish in <i>Theoretical Economics</i> will release their articles under the <a href="http://creativecommons.org/licenses/by-nc/2.5/">Creative Commons Attribution-NonCommercial license</a>. This license allows anyone to copy and distribute the article for non-commercial purposes provided that appropriate attribution is given.
Appears in Collections:Volume 2, Number 1 (March 2007)

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