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Endogenous Time Preferences In Social Networks

Endogenous Time Preferences In Social Networks

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  • ISBN:9781845425982
  • Editorial: Edward Elgar
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  • Nº Pág.:288
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Peter Ordeshook and Marianna Klochko address an understudied issue from rational choice theory - the common assumption that individual time preferences are exogenous and fixed. They then present empirical evidence to suggest that this is not the case, exploring a computer simulation model that allows for the evolutionary change of time preferences. This is done, moreover, in the context of social networks that are themselves endogenously determined

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