The attachment of a higher weight in utility to consumption in the present compared to consumption in the future. A common formulation of utility from a time path of consumption c(t) would be U = ?c(t)e-?t, where ?>0 is the rate of time preference.
Related information about time preference:
- Time preference - Wikipedia, the free encyclopedia
In economics, time preference (or "discounting") is the relative valuation placed on a good at an earlier date compared with its valuation at a later date. There is ...
- Time preference - Mises Wiki
Jun 21, 2011 ... Time preference is the assumption that, all else being equal, people prefer a given end to be achieved sooner rather than later. In the Misesian ...
- The Myth of Time Preference, Bryan Caplan | EconLog | Library of ...
Mar 10, 2005 ... Focusing on time preference also leads Austrians to miss another important reason that pushes up interest rates: economic growth. In the ...
- What is time preference? definition and meaning
Definition of time preference: Inclination of a consumer towards current consumption (expenditure) over future consumption, or vice versa. What may induce a ...
- Time Preference - Dictionary Definition of Time Preference
Definition: A utility function may or may not have the property of time preference. Time preference is an intense preference to receive goods or services ...
- Time-Preference Theory Of Interest Definition | Investopedia
The rate of time preference itself can be quantified as the amount of money required to compensate the consumer for foregoing current consumption.
- Time Preference and Health - National Bureau of Economic Research
Chapter Title: Time Preference and Health: An Exploratory Study. Chapter ... tions that suggest that an investigation of time preference might throw light on health ...
- Time preference - Austrian Economics Wiki
All people prefer a given end to be achieved sooner rather than later. This is the universal...