Comparative Patience
Theoretical Economics
2024-07-03 v1
Abstract
We begin by formulating and characterizing a dominance criterion for prize sequences: dominates if any impatient agent prefers to . With this in hand, we define a notion of comparative patience. Alice is more patient than Bob if Alice's normalized discounted utility gain by going from any to any dominating is less than Bob's discounted utility gain from such an improvement. We provide a full characterization of this relation in terms of the agents' discount rules.
Cite
@article{arxiv.2407.02323,
title = {Comparative Patience},
author = {Mark Whitmeyer},
journal= {arXiv preprint arXiv:2407.02323},
year = {2024}
}