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Time Discounting and Time Preference: A Critical …

Time Discounting and Time Preference: A Critical Review Shane Frederick Sloan School of Management Massachusetts Institute of Technology George Loewenstein Department of Social and Decision Sciences Carnegie Mellon University Ted O'Donoghue Department of Economics Cornell University January 30, 2002. Acknowledgements: We thank John McMillan, David Laibson, Colin Camerer, Nachum Sicherman, Duncan Simester, and three anonymous referees for useful comments. We thank Cara Barber, Rosa Blackwood, Mandar Oak, and Rosa Stipanovic for research assistance. For financial support, Frederick and Loewenstein thank the Integrated Study of the Human Dimensions of Global Change at Carnegie Mellon University (NSF Grant SBR- 9521914), and O'Donoghue thanks the National Science Foundation (Award SES-0078796). Mail: Shane Frederick / Sloan School of Management / Massachusetts Institute of Technology / Room E56-329, 38. Memorial Drive, Cambridge, MA 02142-1307; George Loewenstein / Department of Social and Decision Sciences / Carnegie Mellon University / Pittsburgh, PA 15213-3890; Ted O'Donoghue / Department of Economics / Cornell University / 414 Uris Hall / Ithaca, NY 14853-7601.

1 Time Discounting and Time Preference: A Critical Review Shane Frederick Sloan School of Management Massachusetts Institute of Technology George Loewenstein

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